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520.4p -2.4  -0.5%

Last Trade - 18/05/21

Large Cap
Market Cap £16.87bn
Enterprise Value £20.87bn
Revenue £19.28bn
Position in Universe 70th / 1824

UPDATE 1-Airbus and Dassault reach tentative deal on FCAS fighter, source says

Fri 2nd April, 2021 11:12am
(Adds detail, background) PARIS, April 2 (Reuters) - Industrial partners including Airbus AIR.PA and Dassault Aviation AVMD.PA have reached a tentative deal on the European FCAS fighter project after weeks of deadlock over workshare and other topics, a person close to the matter said on Friday. The agreement, first reported by La Tribune, paves the way for talks to resume at a political level among the project's three government backers, France, Germany and Spain, the source said. Airbus and Dassault both declined to comment. The Future Combat Air System (FCAS) is designed to replace the German-Spanish Eurofighter and Dassault's Rafale with a combination of manned and unmanned aircraft from 2040. First floated by German Chancellor Angela Merkel and French President Emmanuel Macron in 2017, the programme has been dogged by political differences as well as corporate disagreements. It is also up against the rival BAE Systems-led BAES.L Tempest fighter project involving Britain, Sweden and Italy. A joint proposal from European defence group Airbus and Dassault still faces outstanding issues, including intellectual property matters, Dassault Chief Executive Eric Trappier said last month.*:nL2N2L30T9 Dassault had accepted that Airbus will receive a larger overall share of FCAS work but remained ready to pursue a "Plan B" alternative if the talks failed, Trappier also said. The industrial partners in the aircraft programme are Airbus on behalf of Germany, France's Dassault and Indra of Spain. Separate negotiations have been taking place with engine suppliers Safran SAF.PA of France, MTU Aero MTXGn.DE in Germany and ITP, a Spanish subsidiary of Rolls Royce RR.L . <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ -France's Dassault eyes Plan B if European fighter talks fail ID:nL2N2L30T9 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Tim Hepher and Laurence Frost Editing by Mark Heinrich and David Goodman ) ((; +33 1 4949 5683 @Laurence_Frost DMs on; Reuters Messaging: N/A))
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