Spain continues its support to Alestis for the A350 XWB program

The Spanish Board of Ministers has authorized last Friday to the Industry-Ministry to grant support of 19 million euros to Alestis Aerospace for their participation in the development program of the A350 XWB aircraft.

Source: Rami Khanna-Prade

This financial help was originally planned for 2013 but it was not finally paid 2 years ago due to the bankruptcy situation of the company at that time.

According to the Industry -Ministry, the measures taken in relation to Alestis guarantee "the conclusion of their participation" in the program of the A350 XWB, which is considered by the Government as a strategic for aerospace industry established in Spain, and the fulfillment of the viability plan that allowed Alestis to get out of the bankruptcy situation in 2014.

Airbus was bound to recue Alestis when it was in bankruptcy as a consequence of several  problems in the development of A350 belly fairing components. Later, Airbus even entered its shareholders.

Alestis has currently 3 shareholders; Airbus with 61,91% of the representation, the Spanish public society of industrial participations (SEPI)  with 24%, and Andalusian bank Unicaja with 14%.

Based on the article “El Gobierno autoriza ayudas a Alestis por 19 millones para su participación en el programa del A350 XWB” published in Europa Press.