Airbus and Latecoere Discontinue Negotiations on Sites Divestment
(Amsterdam, May 7, 2008) -- Airbus and Latecoere have terminated negotiations regarding the sale of the Airbus sites in Meaulte and Saint Nazaire Ville since a viable solution could not be finalised within the required time frame, in particular due to the current difficult financial environment. However, Airbus intends to keep Latecoere as a first tier partner for the development of the A350.
This does not change the site divestment strategy and Airbus will proceed with the carve-out of these sites into a separate unit, as is being implemented for the sites of Augsburg, Nordenham and Varel. This will prepare the sites for a partnership and sale at a later stage.
The negotiations concerning the divestment in Filton and in Laupheim are continuing with the view to conclude in the next few weeks.
Airbus gives priority to the A350 development and its timely entry into service and will front the capital expenditure required.
Airbus is committed to making strong efforts to secure the Power8 savings and will ensure the competitiveness and efficiency of the sites for which A350 work packages are foreseen.
Given the progress and prospects registered on the Power 8 programme so far, EADS and Airbus maintain the EBIT and cash Power 8 savings targets previously communicated.
Source : Airbus
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