DefenseNews:
A400M Partners Reach Contract Accord: French Minister
TOULOUSE, France - France said Nov. 5 that the seven countries due to buy the troubled A400M military transport had drafted a new deal to fund the program and that it would receive its first plane in 2013. The A400M contract has been a difficult one for the manufacturer Airbus and its parent company EADS, with delivery of the planes already running four years late and a massive 5.2-billion-euro cost overrun.
"I have very, very good news for you - the conclusion of an agreement on the A400M," Morin said, on a visit to EADS subsidiary Airbus' plane-making plant outside the southern French city of Toulouse. "It only remains for the seven customers to begin national ratification procedures. This November 5 is a great day for the European defense industry," he told reporters covering his factory tour.
In a statement, EADS said the draft deal was the same as had been agreed in principle with the client countries in March, which would see the firm agree to cover 1.8 billion euros in cost overruns itself........
"The A400M flight test program is making excellent progress and demonstrates the soundness of the product," said Domingo Urena, managing Director of Airbus Military, in an EADS statement. "We are very proud of the achievements so far and are now moving towards the series production by the end of the year," he added.....