A â¬20 billion (Â£18.3 billion) project to build military transporter aircraft for Nato risks being scrapped next month, EADS, the aerospace group, warned today.
The admission raises the prospect that the group, which also owns Airbus, could be hit by huge fines as demand for aircraft evaporates amid the steep economic downturn.
Louis Gallois, the chief executive of EADS, admitted that 2009 âwill be a very difficult year for usâ.
EADS warned that the A400M project, which has been plagued by delays of up to four years, could be cancelled altogether if all seven nations supporting it pull out, as they have the right to do, on April 1
The UK aside none of the other participating Countries have either the cash or the operational need anymore
Spain is broke and is looking at 20% unemployment next year, Turkey has had to go to the IMF, Belguim and luxemborg are at the knackers yard, Germany's economy is imploding and they are expected to bail out the whole Eurozone, South Africa and Malaysia?!, only France will probably stick with it until they hear about the new price and delivery date.