Munich, le 15 novembre 2000
The EADS European Aeronautic Defence and Space Company welcomes the German government's decision announced in Berlin on Wednesday to grant a repayable loan amounting to roughly two billion DM for the development of the A3XX.
"With today's decision to support Airbus, the German government has taken an important step in setting the future course for the flagship of European integration," stressed EADS Chairman Dr. Manfred Bischoff. "The Schröder government has thus provided further confirmation that France and Germany will remain the motor of European integration in the aerospace branch."
As EADS Co-Chief Executive Officer (CEO) Rainer Hertrich stated in Munich: "The German government's support for the development of the A3XX represents a fundamental contribution to expanding the German aeronautics industry and securing its future. This clear vote by the German government also demonstrates the great confidence it has in the A3XX and the entire Airbus programme. This means that the Airbus success story is set to continue."
By granting this loan, the Federal government is setting the German locations on the same footing as the other Airbus production sites in France, Spain and Great Britain. In those countries the governments have already agreed to give similar financial support.
Hertrich pointed out that the A3XX programme will be receiving support in the form of a repayable loan and not subsidies. "For Europe's governments, supporting Airbus has always paid off. Because, thanks to our great economic success, in the past we have always been able to repay such loans ahead of time - as in the case of the A320 family, for example. And the economic yield lies not only in increased technological know-how and greater ability to compete in the global markets. It can also be clearly measured in terms of jobs."
The A3XX will thus generate and secure valuable capacities in development and production in Germany. According to statistics that have already been gathered and analysed by experts, an estimated 47,000 jobs will be secured and newly generated in Germany. The expected direct effects on employment are for over 15,000 jobs at EADS and its approximately 600 suppliers. In Hamburg alone, roughly 4,000 new employees will be taken on, 2,000 of which will work for suppliers. Because aircraft programmes such as the A3XX have long life cycles the employment effect is likely to last for about 20 years.
For EADS Co-CEO Rainer Hertrich "the grant is also a recognition of the industrial decision that final assembly is to be shared by Hamburg and Toulouse."
While the production and equipping of large fuselage sections, entire furnishing of the cabin and the cargo hold and painting are to take place at Hamburg, final assembly of the completely pre-assembled large components (fuselage, wings and vertical fin) is to be carried out at Toulouse. Delivery of the A3XX to customers in Europe and the Middle East will be from Hamburg while deliveries to all other airlines will take place at Toulouse.
"Through the A3XX programme we wish in particular to make our contribution to strengthening industry in the new Laender," stressed EADS chief Rainer Hertrich. The A3XX will help to secure approximately 2,300 jobs at EADS sites as well as in the aero engine industry at Dresden, Rostock, Ludwigsfelde and Dahlewitz. Furthermore, the A3XX would require the recruitment of roughly 2,200 new employees in all. "In initial round-table discussions with suppliers in the new Laender we have already identified interesting prospects for long-term business contacts between Airbus and the industry in those regions. We shall be increasing our activities in this direction," said Hertrich.
The EADS Co-CEO also welcomed the decision as a contribution towards securing fair competition. The development cost loans from the European governments also act as a counterbalance to the massive indirect support given by the US American government through the placement of major contracts with American companies. This positive decision by the German government ensures that there will be a level playing field for competition within Europe and throughout the world.
EADS was founded on 10 July 2000, when it emerged from the link-up of Aerospatiale Matra S.A. (France), Construcciones Aeronáuticas S.A. (Spain) and DaimlerChrysler Aerospace AG (Germany). With an 80 percent stake it is the largest shareholder in the Airbus consortium. The British company BAE Systems has a 20 percent share.
Contact:
EADS Corporate Communications
Dr. Rainer Ohler
Tel. +49 89 607 34235
www.eads.net
