Mar 22, 2009
Airbus A400M problems reduced EADS's earnings before interest and tax (EBIT) by [euro]704 million ($900 million) in 2008, following a switch to early-stage accounting for the programme in the third quarter. Chief financial officer Hans-Peter Ring acknowledges that the [euro]704 million figure "does not reflect a new complete estimate of the loss at completion". He adds: "Once the situation becomes clear we will resume the milestone accounting and update the provision in its entire scope." Uncertainty surrounds both the availability of the engines and mission-critical systems and customers' response to EADS proposals set out in January. Mar 16, 2009
Eurocopter, Sikorsky Aircraft
The Eurocopter EC225 and Sikorsky S-92 will contest the 2012 and beyond UK Ministry of Defence/Maritime and Coastguard Agency SAR-H search-and-rescue helicopter contract. A Lockheed Martin UK/VT/British International Helicopters team is pitching the EC225 against the S-92 proposed by a CHC Helicopter, Thales UK and Royal Bank of Scotland consortium. Mar 17, 2009
Germany, Italy, Spain and the UK will in late March resume negotiations with the Eurofighter industry consortium over Tranche 3 production of the multirole type. The partner nations earlier this month tasked the NATO Eurofighter and Tornado Management Agency with seeking "significant life cost reductions" before agreeing a delayed deal. The nations say a satisfactory outcome will enable them to sign a "Tranche 3A" contract covering the first 107 of the remaining 236 Eurofighters from their umbrella commitment for 620 aircraft. Mar 19, 2009
European missile house MBDA has played down the implications of a UK decision to delay the planned in-service date for its Meteor beyond visual-range air-to-air missile until mid-2015, and says the weapon has a crucial role to play in future export sales...