European buyers of the A400M military transport plane have signed an agreement in Toulouse in France to rescue the €20bn programme to build the beleaguered transport aircraft.
The agreement calls for a price increase per plane of €11m, for a total of just under €2bn, and an additional €1.5bn provided by credits against future exports.
Go deeper with GlobalData
Developed by EADS, the A400M programme has been delayed due to uncertainties over technical specifications and pressure on defence budgets.
Under the agreement, buyers will acquire a total of 170 planes, instead of 180 initially planned when the project was launched in 2003.
The UK has decided to reduce its order by three planes to 22, while Germany will take 53 planes instead of 60.
See Also:
The A400M aircraft buyers include government’s of seven nations, the UK, France, Germany, Belgium, Luxembourg, Spain and Turkey.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFrench Defence Minister Herve Morin said the A400M was an emblematic programme that Europe could not abandon for fear of being dependent on the US in the 21st century.
