EADS' Airbus A400m production delayed over financing talks

FRANKFURT (AFX) – The production of European Aeronautic Defence and Space Co’s Airbus Industrie A400M military planes has been delayed because of ongoing talks between Germany and fellow European countries over the financing of the project, reported the Financial Times Deutschland, citing a defence ministry spokesman.
The lower house of parliament’s budget committee is to meet on Sept 12, but cannot discuss the project as it has not received any documents on the project, said the spokesman.
Last year, Germany’s former defence minister Rudolf Scharping agreed to buy 73 planes of a total 196. The whole order is worth 18 bln eur. The first delivery was expected in 2008, but the ongoing talks have pushed back the date now by a year, the paper said.
The paper added Germany has so far only secured 5.1 bln eur in its budget to acquire 40 planes.