Wednesday, June 9, 2010

EADS looks to seal revised A400M deal by July

EADS hopes to secure a renegotiated A400M military transport contract with the European launch customers by the end of July, the company has told Jane's .
EADS is looking to convert a framework agreement reached in March with Belgium, France, Germany, Luxembourg, Spain, Turkey and the UK, whereby the partner nations agreed to several contract revisions, including an increase in the price of the original order by EUR2 billion (USD2.5 billion).
Under the March accord, the launch customers also agreed to waive all liquidated damages relating to current delays with the A400M procurement; provide an additional sum of EUR1.5 billion in exchange for participation in future export sales; and accelerate pre-delivery payments in the period 2010-14.
BY:IHS (Global) Limited

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