EADS Delivers Disastrous 2009 Results

March 9, 2010 /EIN PRESSWIRE/ EADS, Europe’s largest aerospace company, posted a net loss of 763 million EUR and an operating loss of 322 million EUR in 2009, a major swing in the wrong direction from the 1.57 billion EUR net profit the company earned in 2008.

The main drivers of loss were the company’s turmoil with the A400M military aircraft and the ballooning A380 superjumbo jet expenses. Revenue, however, remained virtually unchanged from year to year as EADS reported revenue of 42.8 billion EUR in 2009, slightly down from the 43.3 billion EUR in revenue it saw in 2008.

In another setback, the company announced that it will not make a bid for a US tanker contract after its US partner, Northrop Grumman, dropped out of the running for the contract.

Read more at Airbus Daily Report:

EADS news – http://airbus.einnews.com/news/airbus-eads
A380 news – http://airbus.einnews.com/news/airbus-a380-superjumbo

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