UK says no date for renewing Airbus credits, sources see 2017 restart
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A flight test engineer holds an Airbus Group flag after the first flight of the Airbus A320neo (New Engine Option) in Colomiers near Toulouse, France, September 25, 2014. REUTERS/Regis Duvignau/File Photo
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BARCELONA (Reuters) - Britain's export credit agency said it is not targeting any date for restoring financial support for Airbus (NYSE: AIR) jets and two sources said European government export financing, suspended this year amid a corruption probe, may not be available before 2017.
Airbus Group predicted in July that government export credits would resume in the fourth quarter of this year.
"We are working with Airbus to get comfortable with their compliance system," Pat Cauthery, head of aviation at UK Export Finance, told the ISTAT Europe aviation conference, adding that he did not want to be drawn on a particular timetable.
Two people familiar with the matter said export credits for Airbus were unlikely to resume in any material quantity before 2017.
"It is basically over for this year," a person with knowledge of the discussions said.
Asked about that prediction, a spokesman for Airbus Group said it had "no comment on unsubstantiated rumours".
(Reporting by Tim Hepher; Editing by Andrew Callus)
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