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Friday, February 12, 2010

EADS To Ground A400M if No Deal By Monday

Airbus A400MThe European EADS aerospace group, which controls Airbus, will begin to wind down development of the A400M military transport plane if an agreement on budget overruns is not agreed with partner governments by Monday, a report said here Feb. 11.

The newspaper Cinco Dias quoted trade union sources as saying that top Airbus executive Tom Enders had made this clear Feb. 10 when he visited an Airbus site at Getafe near Madrid.

The report said Enders told union officials that European Aeronautic Defence and Space Company (EADS) chief executive Louis Gallois had written to the governments concerned threatening to begin winding down development if an agreement on big development cost overruns were not found.

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