Airbus Chief Executive Guillaume Faury urged on Saturday for a "ceasefire" between the United States and the European Union regarding subsidies provided to airliners crippled by the coronavirus pandemic.

"This dispute, which is now an old dispute, has put us in a lose-lose situation. We have ended up in a situation where wisdom would normally dictate that we have a ceasefire and resolve this conflict," Faury told France Inter.

Washington introduced new tariffs on European products as part of the two sides' dispute Airbus-Boeing subsidies dispute last December, mounting the tensions between the world's biggest economy and the bloc.