Real Decree 178/2015, Of 13 March, Amending Royal Decree 1588 / 2009, Of 16 October, Which Regulates The Direct Granting Of Loans For The Participation Of First-Tier Subcontractors Established In Spain In The...

Original Language Title: Real Decreto 178/2015, de 13 de marzo, por el que se modifica el Real Decreto 1588/2009, de 16 de octubre, por el que se regula la concesión directa de préstamos para la participación de subcontratistas de primer nivel establecidos en España en el...

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-3223

It Award direct of loans to them subcontractors of first level established in Spain, for its participation in the program of development of the Airbus A350 XWB and of the engine Trent XWB, is regulated by the Royal Decree 1588 / 2009, of 16 of October.

This Royal Decree established the conditions which could be direct loans or repayable advances to entities established in Spain first-tier subcontractors of Airbus SAS, and Rolls Royce PLC, aerostructures and the engine, to the realization of development projects relating to your participation in the program of the new A350 XWB Airbus and its Trent XWB engine model.

By subcontractors of first level, is understood those entities to which Airbus SAS (or Rolls Royce PLC for the case of the engine Trent XWB) has selected and assigned packages of work of design, development and production to risk for the new aircraft Airbus A350 XWB and its engine Trent XWB and that have subscribed the corresponding contract with Airbus SAS or with Rolls Royce PLC.

The development of the family of the Airbus A350XWB, which already began in 2007 with the first conceptual studies, will extend until the year 2017, two years beyond the planned initially. The entry into service of the first plane occurred in the year 2014, during the first two years later continue to trials and modifications activities as well as the development of the versions provided for after the initial development. Also during the implementation of this programme has been a profound change in the A350XWB-1000 version on initially so this model will complete their development in the year 2017.

Delays in the development of the A350 XWB programme by the company which leads it, Airbus, have a direct influence on the first-tier subcontractors involved therein and, in particular, those headed to the Royal Decree 1588 / 2009, of 16 October.

However, in some of them conventions subscribed to the amparo of the cited normative, not has been possible fill in them deadlines planned initially them commitments of funding acquired through them themselves. Specifically the entity «Alestis Aerospace, S.L.», beneficiary of them loans regulated by the Royal Decree 1588 / 2009, of 16 of October, is has seen subject to this situation as well as to a contest volunteer of creditors starting from the 7 of mayo of 2012. The sentence of the judged commercial No. 2 of Seville of 12 of February of 2014 approved a Convention of creditors that had with the vote favorable of it Administration General of the State and that has allowed to the company out of the situation bankruptcy.

One of the commitments made in the abovementioned Convention referred to the funding committed in favor of this entity by the Ministry of industry, energy and tourism for their participation in the development of the Airbus A350 XWB aircraft family and that not had been disbursed in fiscal years 2012 and 2013 due to the bankruptcy situation of the entity in the sense that is disbursed partially as soon as that is possible.

As a result, it is necessary to modify the temporal scope of loans regulated by the aforementioned Royal Decree 1588 / 2009, on 16 October, to extend his term until the year 2015 and thus support that it can become effective from 2015 funding to which reference has been made in the previous paragraph.

In his virtue, to proposal of the Minister of industry, energy and tourism, prior report of the Ministry of Hacienda and administrations public and prior deliberation of the Council of Ministers in its meeting of the day 13 of March of 2015, HAVE: article only. Modification of the Real Decree 1588 / 2009, of 16 of October, by which is regulates the award direct of loans for the participation of subcontractors of first level established in Spain in the program of development of the new family of aircraft Airbus A350 XWB and of its engine Trent XWB.

He Real Decree 1588 / 2009, of 16 of October, by which is regulates the award direct of loans for the participation of subcontractors of first level established in Spain in the program of development of the new family of aircraft Airbus A350 XWB and of its engine Trent XWB, is modifies in them following terms: one. The article 2 is worded as follows: «article 2.» Temporary scope.

«This Royal Decree has a temporal scope that includes the period of development of the Airbus A350 XWB aircraft and Trent XWB engine family between 2009 and 2015, both inclusive.»

Two. Paragraph b) of article 5 is worded as follows: «b) loans at zero interest whose maximum amount shall be 75 per cent of the costs eligible for the participation of each one of the entities in the development of the A350 XWB, or, where applicable, resulting from the application of the aid intensity limits in the "Community framework for State aid for research and development and innovation (2006/C 323/01)". "In the event that there had been any circumstance as a corporate restructuring by the European Commission, the duration of loans which, in normal circumstances will be of a maximum of fifteen years including in this period up to five years of lack, can adapt to what has been authorised by the European Commission."

Three. Article 6 is worded as follows: «article 6. The loan financing.

«Funding for loans regulated by Royal Decree may be multi-year basis and will be charged to budgetary application 20.15. 467C. 834 "for funding of strategic projects of development of the aeronautical sector", the budget of the Ministry of industry, energy and tourism, up to a maximum amount of 93.710.540 euros in 2009 and 265.260.810 euros for the period 2010-2015»

Available end. Entry in force.

He present Royal Decree will enter in force the day following to the of your publication in the «Bulletin official of the State».

Given in Madrid, on March 13, 2015.

PHILIP R.

The Minister of industry, energy and tourism, JOSE MANUEL SORIA LOPEZ