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Four European governments to help finance Airbus A350: France
Last Updated(Beijing Time):2006-12-05 10:41

Four European governments would help finance Airbus's latest A350 program, which is expected to cost 10 billion euros (13.2 billion U.S. dollars), French Finance Minister Thierry Breton said in an interview published on Monday.

Breton had said the four partner countries behind the Airbus program, France, Germany, Spain and Britain, would accompany financing of the A350 program, French daily Tribune reported.

The board of the European Aeronautic Defense and Space Company EADS decided late on Friday to go ahead with the program to build the A350 series of airliners.

The aircraft was considered to be crucial to the future of Airbus as the main competitor to U.S. manufacturer Boeing, but Airbus is in difficulties over delays of up to 24 months in its other key new program, for the A380 superjumbo airliner, AFP said.

Later in the day, Airbus chief executive Louis Gallois, told a press conference that "no decision has been taken or is imminent" concerning a contribution by partner countries to the A350 program.

"We do not have an imminent need for finance," Gallois said in a response to Breton's comments.

Airbus has announced ambitious targets for restructuring its business and making a big cost savings, but has yet to provide full details of how it will do so.

Source:Xinhuanet