Amsterdam, 01
December
2006
The EADS Board of Directors has given the go ahead for Airbus to launch the industrial programme for the new A350 XWB airliner family. In doing so, the Board has assumed the full implementation of the Power8 competitiveness programme.
The A350 XWB - together with the A330/A340 aircraft family – will meet a market that requires some 5,700 new aircraft being delivered in the next two decades with more than US$ 1,000 bn value.
“The A350 XWB will be the most modern commercial aircraft and a step ahead of its competitor,” said EADS CEOs Tom Enders and Louis Gallois. “With technologically advanced innovations, the new aircraft is designed to answer the customers’ strong demand with the most efficient and comfortable passenger aircraft in the world.”
The programme will give a tremendous boost to the aeronautical activity across Europe and will be a unique opportunity to bring on board new risk sharing partners, fully supporting EADS International strategy.
The A350 XWB is going to be financed predominantly from the company cash flows, with strong contribution from the Power8 programme and from risk sharing partners. The funding requirements going forward will be proactively managed in line with company policy to preserve a strong balance sheet. EADS expects to spread the development costs of the full XWB family over the years 2007 to 2014 with the bulk of spending occurring in 2010-2013.
EADS is a global leader in aerospace, defence and related services. In 2005, EADS generated revenues of € 34.2 billion and employed a workforce of about 113,000. The EADS Group includes the aircraft manufacturer Airbus, the world's largest helicopter supplier Eurocopter and the joint venture MBDA, the international leader in missile systems. EADS is the major partner in the Eurofighter consortium, is the prime contractor for the Ariane launcher, develops the A400M military transport aircraft and is one of the largest industrial partners for the European satellite navigation system Galileo.
