A400M doubts persist

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EADS has delivered its final results for 2008, reporting an 11 per cent increase in revenues to €43.3bn and a record order book for the group that stands at €400bn.

has delivered its final results for 2008, reporting an 11 per cent increase in revenues to €43.3bn (£40bn) and a record order book for the group that stands at €400bn.

Group EBIT stands at €2.8bn, supported in part by the effects of foreign currency fluctuations, while research and development spend has increased two per cent to €2,669m. Employee numbers have also risen two per cent to 118,349 compared with the same period in 2007.

Despite a set of results that includes a net income of €1,572m and net cash at a record level of €9.2bn, doubts persist about the A400M programme, which, if cancelled, could result in €5.7bn of lost business.

In May 2003, Airbus Military and OCCAR, the procurement organisation representing seven NATO launch customers including Britain, signed a contract for the delivery of 180 A400M military airlift aircraft.

The 77-month, single-phase development and production programme was expected to see first deliveries in 2009.

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