rotornut
3rd Dec 2006, 12:18
BUSINESS TICKER: INTERNATIONAL EUROPE: TRANSPORTATION
EADS approves Airbus launch of Boeing 787 rival
AP
The board of Airbus SAS parent, EADS NV, approved the launch of the Airbus A350 XWB, the mid-size jet designed to rival Boeing's 787, the company said yesterday. In a statement, EADS said funding for the new plane will come "predominantly from the company cash flows," but gave no details. Its success would depend on the implementation of cost-cutting plans at Airbus, EADS said. The decision by the EADS board, meeting in Amsterdam, comes a week after shareholders called off an earlier board meeting amid a dispute over how the plane would be funded. EADS did not say when the A350 XWB will enter service or confirm the total development cost, although co-chief executive officer Tom Enders has said the total program outlay will be close to $10.5-billion (U.S.). EAD (Paris) rose 66 euro cents to €22.87 ($30.50 U.S).
globeandmail.com
EADS approves Airbus launch of Boeing 787 rival
AP
The board of Airbus SAS parent, EADS NV, approved the launch of the Airbus A350 XWB, the mid-size jet designed to rival Boeing's 787, the company said yesterday. In a statement, EADS said funding for the new plane will come "predominantly from the company cash flows," but gave no details. Its success would depend on the implementation of cost-cutting plans at Airbus, EADS said. The decision by the EADS board, meeting in Amsterdam, comes a week after shareholders called off an earlier board meeting amid a dispute over how the plane would be funded. EADS did not say when the A350 XWB will enter service or confirm the total development cost, although co-chief executive officer Tom Enders has said the total program outlay will be close to $10.5-billion (U.S.). EAD (Paris) rose 66 euro cents to €22.87 ($30.50 U.S).
globeandmail.com