No Doubt, EADS Would Like To Forget The Past Year | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 08.17.17

Airborne 08.21.17

Airborne 08.22.17

Airborne 08.23.17

Airborne 08.17.17

Airborne 08.18.17

Airborne-Unmanned 08.22.17

Airborne-YouTube

AMA 08.17.17

Airborne 08.21.17

Airborne 08.22.17

Airborne 08.23.17

Airborne 08.17.17

Airborne 08.18.17

Airborne-Unmanned 08.22.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

Sat, Mar 10, 2007

No Doubt, EADS Would Like To Forget The Past Year

Airbus Problems Result In Big Losses

It's official: this year will go down as the worst-ever in the 37-year history of European Aeronautic Defence & Space (EADS), parent company of troubled planemaker Airbus -- and according to the company's co-CEOs, the worst may still be yet to come.

"It was the worst year for Airbus in its life," co-chief executive officer Louis Gallois said during the company's annual news conference in southern Germany this week.

"We had big problems, as everyone knows," co-CEO Tom Enders added, according to The Associated Press. "This company needs more innovation, more focused innovation."

Both men placed blame for EADS' current financial woes squarely on Airbus, which has endured massive losses stemming from a 22-month delay in deliveries of its A380 superjumbo. The planemaker also misfired on its original design of the A350 midsized airliner, competitor to the Boeing 787; after a costly redesign, that plane won't reach the market until at least four years after the 787 starts customer flights.

Airbus' woes contributed to a staggering $1 billion loss from October-December of 2006; in the last quarter, EADS posted an operating loss of $2.26 billion. Those are the kinds of numbers not even anticipated record deliveries of airliners can surmount.

"We will deliver between 440 and 450 airplanes, but Airbus will display another substantial loss in 2007 because of the charges for the Power8 program (and) further costs to support the A380," Gallois said.

As Aero-News reported, Power8 has drawn strong opposition from labor groups in Germany and France, protesting planned job cuts of 10,000 workers and the sale or partnering of six plants. Gallois said those losses, painful as they are, are absolutely necessary for the planemaker to regain its former glory.

"We have to build a new Airbus. A network of strong partners sharing expenses and risk with it," Gallois said. "It's our priority in 2007 to implement Power8."

FMI: www.airbus.com, www.eads.com

Advertisement

More News

ANN's Daily Aero-Term (08.20.17): Maximum Authorized Altitude

Maximum Authorized Altitude A published altitude representing the maximum usable altitude or flight level for an airspace structure or route segment. It is the highest altitude on >[...]

Airborne-Unmanned 08.15.17: Reno Drone Races, DoD CrackDown, Blue Angels v UAV?

Also: Kansas DOT-AirMap, CIRRUAS Drone Program, Daytona Beach PD UAS, Virginia UAS SAR The Reno Air Racing Association has signed an agreement with the MultiGP Drone Racing League >[...]

AMA Drone Report 08.17.17: MULTI-GP Int'l Open, Drone v Chicago, Reno Drone Race

Also: Yuneec Extended Service Plan, UAV on A/C Carrier, Blue Angels Incident, Drone Operator Safety Act MultiGP’s 2017 MultiGP International Open, conducted on the grounds of>[...]

ANN's Daily Aero-Linx (08.21.17)

Aero Linx: Women Military Aviators, Inc. The organization called the Women Military Aviators, Inc. was formed by two groups of women pilots separated by 39 years of history. The fi>[...]

Airborne 08.18.17: NBAA v KSMO, Sully Attacked, DB Cooper Update

Also: New NASA Admin?, Anti-Aviation Hypocrites, Airberlin, Sky Hopper, Drone v Carrier, Jet Aviation, Airman Retires The NBAA joined five other stakeholders to file a brief with t>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC