Spain said Thursday it had agreed with Airbus to invest 185 million euros to boost its aerospace sector and minimise job cuts by the European plane-maker in the country.
“Both sides feel it is essential to promote a series of initiatives to strengthen the whole sector in Spain and its auxiliary industries,” the Spanish government said in a statement following a meeting in Madrid between Prime Minister Pedro Sanchez and Airbus chief Guillaume Faury.
The 185 million euros ($219 million) investment plan will be financed by the European Union and it will run between 2020 and 2023, the statement added.
Spain also agreed to order several military aircraft from Airbus, including four C295 planes to be used for maritime surveillance and 36 twin-engined H135 helicopters.
