Brief: CTT Puts A320 OEM-Project On Hold As Airbus Discontinues DAGS Moisture Control System Development For Airbus A321XLR

CTT Systems AB

17/08/2020 07:33

Aug 17 (Reuters) - CTT Systems AB  CTTS.ST :
    * CTT PUTS THE A320 OEM-PROJECT ON HOLD AS AIRBUS
DISCONTINUES
DAGS MOISTURE CONTROL SYSTEM DEVELOPMENT FOR AIRBUS A321XLR
    * CTT WAS NOTIFIED BY AIRBUS THAT DAGS MOISTURE CONTROL
SYSTEM HAS
BEEN REMOVED FROM OPTIONS BASELINE ON A321XLR AIRCRAFT
    * CTT REGRETS THIS DECISION BY AIRBUS AND CONSEQUENTLY HALTS
ITS
RELATED DEVELOPMENT ACTIVITIES
    * CTT ENGAGES TO SECURE THAT AIRBUS REMAINS COMMITTED AND
STARTS A
NEW PROJECT TO ENABLE DAGS FOR OPTIONAL LINE-FIT ON A320 FAMILY
AIRCRAFT
    * IN PARALLEL, CTT PREPARES FOR CONTRACT CANCELLATION
NEGOTIATIONS
WITH AIRBUS, IN ORDER TO REACH A MUTUALLY ACCEPTABLE AGREEMENT.

Source text for Eikon:  ID:nWkr7nH0f8 
Further company coverage:  CTTS.ST 

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