Airbus was founded as Airbus Industrie GIE from a group of European aerospace companies in 1970 to produce a widebody aircraft able to compete with US-built designs. Some of the European companies that were merged into it are among the oldest aerospace companies in the world. Competing with the much larger United States and its Boeing, Lockheed, and McDonnell Douglas aerospace companies required the comparatively smaller European states to pool resources.
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