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Airbus wants A400M funding sorted


Airbus wants A400M funding sorted


Planemaker Airbus has sent a message to European governments that discussions need to be concluded quickly to sort out funding for the troubled A400M military transport plane.

Airbus says it will start reducing its financial exposure to the programme unless there is tangible progress within days in talks with seven countries over sharing out the cost overruns.

Airbus’ parent company EADS wants 4.5 billion euros from those governments, they are offering 3.5 billion.

Reportedly Airbus’ Chief Executive Tom Enders has told unions that work on the plane could stop.

Alternatively it could freeze investment or hiring until doubts over the aircraft are lifted.

EADS said it needs to have a decision soon, so it knows what its share of the cost overruns will be to be included in its 2009 financial results.

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