EADS goes into red with loss of 446 million euros: company

SPACEMART

by Staff Writers
Paris (AFP) March 11, 2008
The European aerospace group EADS, which owns planemaker Airbus, went into the red in 2007 with a net loss of 446 million euros (684.6 million dollars), caused by delays with its A400M military plane, the company said.

In 2008 EADS expects to considerably improve its earnings before interest and taxes (EBIT) to 1.8 billion euros against 52 million in 2007.

It is also expecting turnover to be "above 40 billion euros" against 39.1 billion euros in 2007.

Late last month the US Pentagon defence department awarded an aerial refuelling tanker contract worth 35 billion dollars to EADS and the US group Northrop Grumman, instead of to US group Boeing, which has said it may protest the decision.

It was a stunning upset for Boeing, until now the sole supplier of air refueling planes to the US military.

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Kalam Proposes Joint Investment In Space By India And Israel

Tel Aviv, Israel (PTI) Feb 29, 2008
India and Israel should consider jointly investing up to USD one billion in selected areas in space technology based on their mutual core competence, former Indian President APJ Abdul Kalam said here on Wednesday.

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