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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

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AIRBUS GROUP : Airbus seeks $1.2 billion compensation over German Eurofighters

02/25/2014 | 09:34am EST
Flags with the new logo of aircraft manufacturer Airbus Group are seen on the entrance gate of the company's office building in Paris

BERLIN/MUNICH (Reuters) - Airbus Group will demand around 900 million euros ($1.24 billion) compensation from Germany over plans to cancel delivery of a final shipment of Eurofighter jets, a source close to a German parliamentary committee said on Tuesday.

Reuters last week reported that delivery of the last 37 jets, which could cost around 3.2 billion euros, had been canceled.

Airbus said it would seek compensation but declined to say how much.

"The contract sets out compensation payments if Tranche 3B is not taken up," a spokesman for Airbus told Reuters.

A spokesman for the defense ministry said the amount was in the hundreds of millions.

Daily paper Handelsblatt also reported a figure of 900 million euros earlier on Tuesday.

The German government decided in 2011 that it needed only 147 Eurofighter jets instead of 180. However, it was not clear how the reduction would be achieved.

The air force had wanted to sell some older Eurofighters and still order the 37 newer aircraft, but the financial crisis made the sale difficult.

(Reporting by Sabine Siebold and Jens Hack; writing by Victoria Bryan; editing by Tom Pfeiffer)


© Reuters 2014
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.12% 91.3 Real-time Quote.1.69%
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Financials
Sales 2020 46 911 M 56 960 M 56 960 M
Net income 2020 -1 494 M -1 815 M -1 815 M
Net cash 2020 1 264 M 1 535 M 1 535 M
P/E ratio 2020 -51,0x
Yield 2020 0,03%
Capitalization 71 511 M 86 680 M 86 829 M
EV / Sales 2020 1,50x
EV / Sales 2021 1,33x
Nbr of Employees 134 071
Free-Float 74,1%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 98,28 €
Last Close Price 91,30 €
Spread / Highest target 52,2%
Spread / Average Target 7,65%
Spread / Lowest Target -36,3%
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Managers and Directors
NameTitle
Guillaume Faury Chief Executive Officer
René Richard Obermann Chairman
Michael Schöllhorn Chief Operating Officer
Dominik Asam Chief Financial Officer
Luc Hennekens Chief Information Officer
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