EADS Co-CEO Calls 2006 the Worst Year

But he and EADS said the problems at Airbus would continue to be felt through 2007, warning that it would post another substantial loss in 2007.


Three sites making wing and fuselage parts in Britain, France and Germany are earmarked for sale to new investment partners as Airbus follows in Boeing's footsteps by seeking fresh financing for its programs.

Airbus has said potential investment partners include Britain's GKN PLC, Italy's Finmeccanica SpA and U.S.-based Spirit AeroSystems Holdings Inc. - a former Boeing division that was renamed after its sale to investment firm Onex and remains a major Boeing supplier.

The plan has caused political disagreement between Germany and France, with the German government endorsing Power8 as a chance to make the planemaker more competitive, and French politicians looking for ways to circumvent job losses.

"For Airbus ... we will deliver between 440 and 450 airplanes, but Airbus will display another substantial loss in 2007 because of the charges for the Power8 program (and) further costs to support the A380," Gallois said.

___

On the Net:

http://www.eads.com

http://www.airbus.com


Copyright 2005 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.

We Recommend