European Aeronautic, Defence & Space Co. executives are meeting managers and employees today to unveil planned job cuts tied to a combination of space and defense assets as governments curtail spending.
European Aeronautic, Defence & Space Co. is scaling back its ambitions to win a bigger slice of the U.S. military market as it focuses on the most sweeping overhaul of its defense and space operations in more than a decade.
Poland’s Defense Ministry said it’s exploring closer ties with European Aeronautic, Defence & Space Co., responding to a report that the eastern European country may seek to buy a small stake in the parent of Airbus SAS.
Germany may upgrade its short-range missile-defense capability by adapting the aging Patriot system after its planned successor known as MEADS was dropped on cost grounds, a senior Defense Ministry official said.
Airbus chief salesman John Leahy is among seven current and former executives of European Aeronautic, Defence & Space Co. who face trial on charges of insider trading in shares of Europe’s biggest aerospace company.
Air-crash investigators probing the police helicopter crash that killed nine in a crowded Glasgow bar said that the machine was intact during its near-vertical plunge to the ground, with no evidence of fire or an explosion.
European Aeronautic, Defence & Space Co.’s works council expects negotiations with management about job cuts to drag into next year as the two sides haggle over the fallout from combining the defense and space units.
European Aeronautic, Defence & Space Co. said it’s aiming to buy a stake in Italy’s Avio SpA as private equity firm Cinven Ltd. seeks to cut its holding in a company whose remaining business is focused on rocket engines.
European Aeronautic, Defence & Space Co.’s works council urged a collaborative approach on what may be thousands of job losses as it integrates defense and space units, with one of its biggest unions calling a day of protests.