DTN News: EADS Confident On A400M, Seeks Clarifications
Source: DTN News / Int'l Media
(NSI News Source Info) PARIS, France - March 1, 2010: Airbus parent EADS
expressed confidence in the chances of a positive outcome in the final stretch of talks to 
rescue the delayed A400M troop plane and said it was seeking clarifications before a final deal.
Seven European nations agreed in principle on Thursday to pump in 3.5 billion euros ($4.7 billion) to save the troubled project and said they would evaluate a letter they had received from EADS in the hope of finalising the long-awaited deal.
"EADS welcomes the joint statement by defence ministers of the nations in charge of the A400M and is confident that a positive outcome will be reached with a final agreement that is acceptable to all parties," an EADS spokesman said on Friday.
"However there are still certain clarifications that need to be finalised," he added without elaborating.
The EADS letter seen by Reuters called for assurances on three fronts -- that individual nations should not weaken their commitment on orders, buyers should limit requests for optional extras and that they should clarify the status of 1.5 billion euros of guarantees that form part of the bailout package.
EADS is anxious to avoid classifying the 1.5 billion euros as a loan, which would force it to increase provisions in its 2009 accounts due on March 9.
Ministers from purchasing countries -- Britain, France, Germany, Belgium, Luxembourg, Turkey and Spain -- are due to meet again on March 8.
Source: DTN News / Int'l Media
(NSI News Source Info) PARIS, France - March 1, 2010: Airbus parent EADS 
rescue the delayed A400M troop plane and said it was seeking clarifications before a final deal.
Seven European nations agreed in principle on Thursday to pump in 3.5 billion euros ($4.7 billion) to save the troubled project and said they would evaluate a letter they had received from EADS in the hope of finalising the long-awaited deal.
"EADS welcomes the joint statement by defence ministers of the nations in charge of the A400M and is confident that a positive outcome will be reached with a final agreement that is acceptable to all parties," an EADS spokesman said on Friday.
"However there are still certain clarifications that need to be finalised," he added without elaborating.
The EADS letter seen by Reuters called for assurances on three fronts -- that individual nations should not weaken their commitment on orders, buyers should limit requests for optional extras and that they should clarify the status of 1.5 billion euros of guarantees that form part of the bailout package.
EADS is anxious to avoid classifying the 1.5 billion euros as a loan, which would force it to increase provisions in its 2009 accounts due on March 9.
Ministers from purchasing countries -- Britain, France, Germany, Belgium, Luxembourg, Turkey and Spain -- are due to meet again on March 8.
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