European aerospace group reports larger than expected losses, but remains
optimistic for the year ahead.

PARIS, FRANCE (MARCH 11, 2008) (AIRBUS POO) - European aerospace group EADS reported a wider-than-expected 2007
net loss of 446 million euros ($685 million) on Tuesday (March 11), but said
it had turned the corner on industrial problems recently gripping the
company.
    The loss compared with a slender 99 million euro profit in 2006 and an
average market forecast of a 329 million euro loss in 2007.
    Shares in the Airbus parent company fell on the results and on a
challenge to the European company's recent defence contract win in the United
States from rival Boeing.
    EADS and Northrop Grumman won a $35 billion aerial refuelling tanker
contract from the U.S. Air Force on February 29 but Boeing  said on Monday
that it would file a protest.
    Hit by production delays on the Airbus A380 superjumbo and a weak
dollar, EADS posted below-consensus operating profit of 52 million euros, down
from 399 million euros in 2006.
    Airbus hopes to win 700 orders in 2008, half last year's record, and to
deliver about 470 planes, up from 453 in 2007.
    CEO of EADS, Louis Gallois, said Airbus had made progress on every
front and was setting new records. Demand was "very brisk".
    The Airbus A380 was now operating on its regular service to Singapore
and proving very popular with passengers booking specifically to fly on the
superjumbo, he said.
    The latest proof of positive momentum for the company was the winning
of the supply contract for the aerial refueling tanker KC45 for the U.S.
airforce, he added.