Amsterdam, 26
February
2007
The EADS Board of Directors today unanimously approved the Power8 plan for the transformation of Airbus to be discussed with the Airbus' European Works Council on 28 February 2007 and then with the other relevant employee representation bodies. Following this presentation of the Power8 plan to the employee representations, EADS and Airbus will communicate on its details. The Board of Directors fully supports the EADS and Airbus management in realizing the plan.
Power8 shall enable Airbus to better face the challenge of the US Dollar weakness, the financial burden related to the A380 delays as well as its future investment needs. The plan will lead to EBIT* contributions of € 2.1 billion in 2010 and additional € 5 billion of cumulative cash flow from 2007 to 2010.
EADS is a global leader in aerospace, defence and related services. The Group includes the aircraft manufacturer Airbus, the world's largest helicopter supplier Eurocopter and EADS Astrium, the European leader in space programmes from Ariane to Galileo. EADS is the major partner in the Eurofighter consortium, develops the A400M military transport aircraft, and holds a stake in the joint venture MBDA, the international leader in missile systems.
* EBIT
EADS uses EBIT pre-goodwill impairment and exceptionals as a key indicator of its economic performance. The term “exceptionals” refers to such items as depreciation expenses of fair value adjustments relating to the EADS merger, the Airbus Combination and the formation of MBDA, as well as impairment charges thereon.
