EADS Says China Stopping Plane Sales Over EU Carbon Tax

Law360, New York (March 8, 2012, 4:40 PM EST) -- China’s government is blocking the sale of 45 Airbus planes as part of a protest against the European Union's recently implemented controversial cap-and-trade program, the CEO of the aircraft maker’s parent company European Aeronautic Defence and Space Co. NV said Thursday.

“The contracts are completed and we are just waiting for the approval of the Chinese government, which has put [the deal] on hold,” Louis Gallois, EADS' CEO, said during a conference call about the company’s annual earnings report.

Airbus was planning to sell 35 midsize...
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