French defence procurement officials have expressed hope that a refinancing deal on the troubled A400M military transport program can be reached between partner nations soon.
Speaking to media on February 8, Laurent Collet-Billon, head of the DGA (the French arms procurement and export agency), said the partner nations hoped to have a deal settled by the end of February.
Airbus parent EADS is asking for an additional €4bn (A$6.3bn) from the partner nations to help cover cost blowouts in the program, which is also running more than three years behind schedule due to engine development delays and an underestimation of the industrial resources required to execute the program.
Germany and the UK are reported to be holding out on agreeing to the deal, with both countries looking for massive savings in their defence budgets in coming years.
25% off starts now! Australian Aviation magazine Cyber Monday sale is now live. Have the very best of Australian Aviation’s annual print and digital subscription. This includes every In Focus and Behind the Lens digital magazine, special coverage, exclusive photos and editions you may have miss. Subscribe now at australianaviation.com.au.
Start your very own aviation journey with Australian Aviation. Sign up today for as little as $49.95 and you’ll enjoy access to:
You can always rely on us to keep you in the know.
Join now and start enjoying all these benefits today.