EC Orders Italian Loan Repay

 - March 28, 2008, 10:29 AM

The European Commission (EC) has ordered Italy to ensure immediate reimbursement of E170 million ($250 million) worth of “illegal” loans that had been allotted to various aerospace programs, including AgustaWestland for the A109 and A119 and Alenia-made Falcon 2000 business jet subassemblies. In addition, Italy must ask Avio to repay a loan for its contribution to the Pratt & Whitney Canada PW308 business jet engine. The investigation could also affect loans for the AW139 and the BA609 Tiltrotor.