A400M partners reach contract accord: French minister

5th November 2010, Comments 0 comments

The seven countries in the Airbus A400M European military aircraft project reached a final agreement Friday on sharing cost over-runs, the French defence minister said Friday.

"I have very, very good news for you -- the conclusion of an agreement on the A400M," Herve Morin said at Airbus headquarters here.

"The contract has just been finalised among the seven partners and Airbus Military. We now have to start the process of national ratification in the seven countries."

Cost over-runs connected with the badly delayed project amount to 5.2 billion euros (7.2 billion dollars).

The seven countries that are to purchase the Airbus A400M are Germany, France, Spain, Britain, Turkey, Belgium and Luxembourg.

© 2010 AFP

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