GLG News Analyses of the following article:
EADS Doesn’t Need Capital Increase to Finance A350, Tribune Says
Published at: www.financemagic.co.uk
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Who Will Cough Up for the Airbus A350XWB?
July 5, 2009
EADS has about $11.5bn in cash reserves, the company's only asset (and EADS isn't GE), but daren't risk German and French shareholders' nixing the use of these funds. The A350XWB could cost another $15bn+ from here on in based on today's Airbus projections and not taking into account widely-anticipated service-entry delays of a further two years. European taxpayers are potentially on the block for one-third of this cost, ie $5bn+. But no capital increase is needed, right?
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