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Monday, November 08, 2010

European buyer nations reached agreement on a 3.5 billion euro bailout to Airbus A400M military transporter

Airbus A400M GrizzlyEuropean buyer nations reached a final agreement on Thursday on a 3.5 billion euro bailout to rescue the troubled Airbus A400M military transporter, French Defence Minister Herve Morin said.

The agreement lifts a two-year cloud over the future of Europe's largest defence project and some 10,000 jobs threatened by delays and cost overruns.

"The A400M is an emblematic programme which Europe could not abandon," Morin told a news conference.

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