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AIR - Airbus SE News Story

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Last Trade - 14/05/21

Sector
Industrials
Size
Large Cap
Market Cap £67.37bn
Enterprise Value £69.66bn
Revenue £42.84bn
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German, French defence ministers to discuss joint combat jet

Thu 15th April, 2021 7:46pm
BERLIN, April 15 (Reuters) - German Defence Minister
Annegret Kramp-Karrenbauer will next week discuss with her
French counterpart Florence Parly the behind-schedule
Franco-German combat jet project as well as tensions with Russia
over Ukraine.
    Other topics at the talks in Paris on Tuesday include both
countries' military missions in the Sahel and the situation in
the Indo-Pacific region, a defence ministry spokesman in Berlin
said on Thursday.
    On Monday, Kramp-Karrenbauer will meet NATO
Secretary-General Jens Stoltenberg in Brussels, he added.
    The development of the next-generation combat jet, Europe's
largest defence project, has been plagued by squabbling between
Airbus  AIR.PA  and Dassault  AVMD.PA  as well as tensions
between Germany and France.
    Costing more than 100 billion euros ($119.75 billion), the
Future Combat Air System (FCAS) brings together Germany, France
and Spain. 
    Dassault Aviation, Airbus and Indra  IDR.MC  are involved in
the scheme to start replacing France's Rafale and German and
Spanish Eurofighters from 2040.
    The next step of the jet's development is conditional on the
German parliament's approval, and time is running out to find a
solution to present a proposal in time for the German
parliament's budget committee to vote upon it before a general
election in September.
    The defence ministry has to refer the budget proposal to the
finance ministry by May 19, said a source with knowledge of the
issue. 
 ($1 = 0.8351 euros)

 (Reporting by Sabine Siebold; editing by Jonathan Oatis)
 ((Sabine.Siebold@thomsonreuters.com; +49-30-2201-33574;))
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