Page last updated at 13:03 GMT, Friday, 14 August 2009 14:03 UK

Airbus loan 'helps Welsh firms'

Lord Mandelson at Airbus
The move will secure jobs in Broughton, Flintshire, and in Bristol

Politicians in Wales have welcomed a UK government deal to secure up to 5,000 jobs related to the Airbus factory in Flintshire.

Business Secretary Lord Mandelson said £340m in loans would protect 1,200 jobs at Broughton and Bristol and 3,800 at contract firms.

Alyn and Deeside AM Carl Sargeant said it gave people "hope and confidence in the future".

Wrexham AM Lesley Griffiths said local firms relied on Airbus for orders.

Airbus has welcomed the investment in the design and development of its extra wide-bodied model, the A350 XWB.

The investment, called a repayable launch investment, comes after France and Germany promised to invest 1.4bn euros and 1.1bn euros respectively for the A350 project.

Lord Mandelson said the decision was "excellent news" for the UK aerospace sector and for the British workers within Airbus.

The Society of British Aerospace Companies has said the deal "secures vital work across the sector".

'Cutting-edge technology'

Mr Sargeant said the investment would be welcomed by the local workforce.

He said: "In uncertain times it is this type of action that gives people hope and confidence for the future. It will maintain Broughton's role in the global aerospace industry."

He added: "This is good news for Broughton and builds upon the centre of excellence we have established at Airbus.

"Airbus provides all that is best in our modern economy with cutting-edge technology and world class products produced here in north east Wales."

Ms Griffiths said: "The announcement that the UK Government is to provide £340m in loans means that hundreds of aerospace jobs in Wrexham will be more secure today, as a result.

"Earlier this week, I visited the Tritech factory in Wrexham - a company which is largely dependent upon Airbus having a secure future.

"Indeed, many companies in Wrexham rely on Airbus in Broughton to keep their order books full."

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