European commercial aircraft builder Airbus Monday said it has no plans to provide billions of dollars in loans to its customers, contrary to a report in U.K. newspaper The Times.

"Backstop financing is standard industry practice and is agreed at the time of contract," an Airbus spokesman told Dow Jones Newswires.

"This happens years in advance of aircraft deliveries and is not the same thing as providing customers with billions in loans which Airbus does not go into," the spokesman said.

Airbus is a subsidiary of European Aeronautic Defence & Space Co. NV (5730.FR).

-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com

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