March 11, 2008 -- European Aeronautic Defence & Space Co. is maintaining plans to expand in the United States, despite politicians and labor unions who have been claiming the decision to award EADS the Air Force tanker contract is hurting U.S. industry.
EADS is expected to unveil an annual loss triggered by industrial problems in its European plants and a weak dollar. Airbus also reels from delays to its A380 superjumbo. Today, EADS posted net income of 259 million euros ($401 million) compared with a loss of 768 million euros in the year-earlier period. Revenue fell 5% to 11.36 billion euros, hurt by weak aircraft pricing at Airbus.
Abstracted from The Wall Street Journal and Marketwatch
