Airbus aircraft delays push EADS to a loss

By Amy Wilson 630AM GMT 10 March 2010

EADS Eurofighter Typhoon jet lands at the Swiss Army Airbase in Emmen, senior manager Switzerland

The strength of the euro opposite the dollar additionally dragged down gain by €1bn for the third year in a row, arch senior manager Louis Gallois said.

EADS reported a net loss of €763m for 2009, down from a distinction of €1.57bn last year. A €1.8bn assign on the behind and over-budget A400M and €240m of supplies for the A380 both weighed on the result. Revenue slipped 1pc to €42.8bn. The association does not mangle out pre-tax profit.

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EADS additionally pronounced it had been forced to lift out of the competition to set up 179 new refuelling tanker planes for the US troops since of strong disposition in the conditions of the contract.

"We had no possibility of winning and we are contemptible about that since we think we have the most appropriate plane," Mr Gallois said. But he emphasised the preference to lift out, along with partner Northrop Grumann, did not meant EADS would equivocate behest for US contracts in the future.

"The tanker preference does not lessen the joining to the US," Mr Gallois said. The US is by far the world"s greatest counterclaim market, and you do some-more commercial operation there will additionally assistance EADS revoke the bearing to dollar weakness.

Politicians in Europe upheld Mr Gallois" decision. "Given the open marketplace to US producers we have in Europe, it is really unsatisfactory that a US-led European consortium feels that the revised tanker buying routine is right away so inequitable opposite them that it is not even value creation a bid," pronounced Lord Mandelson, the commercial operation secretary.

There were splendid spots between the numbers EADS" heavenly body commercial operation Astrium reported a 12pc enlarge in income to €4.8bn. Astrium"s Paradigm commercial operation in the UK yesterday concluded a �400m stipulate prolongation to yield secure heavenly body information exchnage for UK armed forces.