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EADS threatens to stop developing A400M - magazine

Sat Sep 20, 2008 10:21am EDT

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FRANKFURT, Sept 20 (Reuters) - European aerospace firm EADS (EAD.PA) has said it will stop developing the A400M military airlifter if it has to pay fines for delays in the delivery of the plane, German magazine Der Spiegel reported.

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Problems with the military airlifter are a burden on the performance of the whole group, EADS Chief Executive Louis Gallois wrote in a letter to German defence minister Franz Josef Jung, according to Der Spiegel.

The A400M is already loss-making and the situation may become unbearable for the company if those countries that have ordered the plane do not abstain from claiming damages for the delays, Gallois said in the latter, the magazine said.

A spokeswoman for EADS declined to comment.

Britain, France, Germany, Spain, Belgium, Luxembourg and Turkey have between them ordered 180 A400M airlifters. Exports to South Africa and Malaysia take the total aircraft ordered to 192.

(Reporting by Peter Dinkloh; editing by Christopher Johnson)

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