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Airbus signs amended A400M deal with buyer countries


Added 06-14-19 04:03:01am EST - “Airbus said on Friday it had signed an agreement with European buyer countries f...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Airbus signs amended A400M deal with buyer countries”. Below is an excerpt from the article.

PARIS (Reuters) - Airbus said on Friday it had signed an agreement with European buyer countries for a revised contract for its delayed A400M military transporter plane.

Airbus said the agreement with OCCAR, which represents Germany, France, United Kingdom, Spain, Turkey, Belgium and Luxembourg, included key points such as new capabilities development plan, a new production delivery schedule and new financial terms.

Under the new financial terms, it said the partners agreed on the implementation of a revised financial retention mechanism which is the amount of cash that buyer countries can hold back while waiting for delayed deliveries.

“On the basis of this contract amendment signature, Airbus is fully committed to continue on this positive path and to providing its A400M current and future customers with the most powerful and technologically advanced military transport aircraft available on the market,” said Dirk Hoke, Chief Executive Officer of Airbus Defense and Space.

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