Monday, November 29, 2010

A400M to Turn Profit in Long Term: EADS CFO in Paper

FRANKFURT (Reuters) - EADS is confident it can sell up to 500 of its Airbus A400M military transporters and that the project will be profitable, the aircraft maker's finance chief told a German newspaper.

"We see a broad global market of 400 to 500 aircraft with good chances for this aircraft to turn profits in the long term," CFO Hans-Peter Ring was quoted as saying on Saturday in an advance copy of an interview to be published in Sunday paper Euro am Sonntag.

European buyer nations reached a final agreement on November 5 on a 3.5 billion euro ($4.64 billion) bailout to rescue the troubled Airbus A400M project.

Ring also told the Sunday paper that EADS would take care to avoid overburdening itself again, as it did when it pursued the A400M, A380 and A350 projects simultaneously.

"We are drawing consequences, for example for the upgrade of our A320 models," Ring said.

The company would make sure that the upgrade does not hamper other projects, he added.

(Reporting by Ludwig Burger; Editing by Ruth Pitchford)


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