A400M provision not yet finalised

http://www.eads.com/1024/es/pressdb/pressdb/20100217_eads_a400m.html

 

In reaction to unsolicited press reports regarding the latest steps of the A400M negotiations, the company cautions that it is too early to draw financial conclusions yet.

 

EADS confirms that it has received a letter from the customer nations of the A400M programme, summarising the status of the negotiations and proposing a number of changes to the initial contract

 

The letter is definitely an important step towards convergence, but it is not a contract draft; the company wishes to get further clarification on several items, and certain points are left open for later discussion.

 

EADS will update the A400M provision in its 2009 financial statements. This update will require certain critical assumptions and financial assessments to be made that are not yet finalised. Therefore, EADS is at present not in a position to determine the level of the A400M provision it will need to charge in its 2009 accounts.

 

It is the clear intention of EADS' management and Board to determine a reliable figure for such provision and to communicate it to the market as early as possible.