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Sunday, September 21, 2008

EADS could freeze A400M production amid late-delivery row

Aerospace giant EADS has threatened to freeze production of its Airbus subsidiary's flagship military airlifter if clients do not drop penalty clauses for late delivery, a German news report said Saturday.

Der Spiegel weekly, trailing its Monday publication, cited a letter sent by Louis Gallois, the French chief executive of both companies, to the governments of seven countries who have ordered the A400M plane.

In the letter, Gallois is quoted as saying the military carrier is "a heavy lossmaker" which is creating "considerable difficulties" at EADS, weighing down on the group's financial performance.

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