Worst year’ ever, says EADS co-chief
Associated Press
Published March 10, 2007
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MUNICH — Airbus SAS endured its worst year since it began in 1970, as delays, higher expenses and a weak dollar dragged down fourth-quarter and 2006 net profit for its parent, European Aeronautic Defense and Space Co.
And EADS’ co-chief executives said Friday that things would get worse before they get better.
“It was the worst year for Airbus in its life,” said Louis Gallois, also the CEO of Airbus.
Gallois cited the multiple and major delays to the A380 superjumbo jet that caused EADS to lose $1.01 billion in the October-December period, after making about $530 million in the year-earlier quarter.
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March 10, 2007 at 4:56 pm