Wednesday, June 21, 2006

Airbus troubles continue news roundup.

EU: Its looks to be coming apart at the seams as every gripe that has been kept quiet is coming out.

AP: "Left-wing lawmakers jumped from their chairs, booed and shouted "resign, resign!" at Prime Minister Dominique de Villepin on Tuesday during a heated parliamentary debate over financial troubles at the parent company of Airbus. Villepin lost his temper under questioning from Socialist Party leader Francois Hollande about European Aeronautic Defence and Space Co., which has seen its stock tumble after Airbus announced delays in its much-touted A380 superjumbo jet and questions surfaced about share selloffs by top executives. "Mr. Hollande, I denounce your facile approach - and I will even say this looking you in the eyes - the cowardice in your attitude," Villepin said. "I'll say it again: cowardice." Many Socialist lawmakers leaped up, shouting and gesturing furiously, causing such an uproar that the body's president had to interrupt the session. Although outbursts are frequent in the National Assembly, this one was of rare intensity. "
France wants more say in the company.
PARIS, June 20 — The French government on Tuesday called for revisiting the ownership structure of the Company">European Aeronautic Defense and Space Company in a way that would give Paris more say in the management of the mainly French-German company. The move, which comes amid growing management turmoil at EADS, the parent company of Airbus, could set the stage for a possible clash with the German government. Speaking during a heated parliamentary debate over the EADS crisis, Prime Minister Dominique de Villepin said that the French government would seek to "return to square one" of the 2000 agreement that created EADS and gave equal weight to French and German interests in the company.
Customers wanting to cancel orders.
"Airbus faces a mounting crisis after the world's biggest leasing company threatened to axe orders worth up to $3bn for the A380 superjumbo, a move that could trigger an exodus of customers. International Lease Finance Corporation (ILFC) said it was "not happy" about fresh delays in the delivery of the $300m double-decker and believed it now had a legal case to scrap its 10 orders. "We are considering cancelling all or some of our A380 order," said the group's chief executive, Steven Udvar-Hazy. ILFC, based in California, has the fourth-biggest order for the A380 after Emirates, Lufthansa and Air France.

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