AGL 38.40 Increased By ▲ 0.24 (0.63%)
AIRLINK 133.99 Decreased By ▼ -0.20 (-0.15%)
BOP 9.01 Increased By ▲ 0.16 (1.81%)
CNERGY 4.74 Increased By ▲ 0.05 (1.07%)
DCL 8.89 Increased By ▲ 0.22 (2.54%)
DFML 39.85 Increased By ▲ 0.07 (0.18%)
DGKC 85.24 Increased By ▲ 0.09 (0.11%)
FCCL 34.60 Decreased By ▼ -0.30 (-0.86%)
FFBL 75.74 Increased By ▲ 0.14 (0.19%)
FFL 12.76 Increased By ▲ 0.02 (0.16%)
HUBC 110.30 Increased By ▲ 0.85 (0.78%)
HUMNL 14.51 Increased By ▲ 0.41 (2.91%)
KEL 5.45 Increased By ▲ 0.05 (0.93%)
KOSM 8.09 Increased By ▲ 0.34 (4.39%)
MLCF 41.00 Decreased By ▼ -0.37 (-0.89%)
NBP 70.25 Increased By ▲ 0.55 (0.79%)
OGDC 193.00 Decreased By ▼ -0.62 (-0.32%)
PAEL 27.35 Increased By ▲ 1.14 (4.35%)
PIBTL 7.50 Increased By ▲ 0.08 (1.08%)
PPL 164.70 Increased By ▲ 0.85 (0.52%)
PRL 26.35 Decreased By ▼ -0.01 (-0.04%)
PTC 20.50 Increased By ▲ 1.03 (5.29%)
SEARL 88.50 Increased By ▲ 4.10 (4.86%)
TELE 7.88 Decreased By ▼ -0.11 (-1.38%)
TOMCL 35.20 Increased By ▲ 1.15 (3.38%)
TPLP 9.00 Increased By ▲ 0.28 (3.21%)
TREET 17.16 Decreased By ▼ -0.02 (-0.12%)
TRG 60.10 Decreased By ▼ -0.90 (-1.48%)
UNITY 31.25 Increased By ▲ 2.29 (7.91%)
WTL 1.37 No Change ▼ 0.00 (0%)
BR100 10,791 Increased By 15.6 (0.15%)
BR30 32,449 Increased By 215 (0.67%)
KSE100 100,339 Increased By 256.3 (0.26%)
KSE30 31,184 Decreased By -9.1 (-0.03%)

Defence group EADS on Monday said it may freeze its drone project if European governments don't commit funds, even as it faces a funding stand-off with the same nations over its delayed military plane project. In an interview with Financial Times Deutschland, Stefan Zoller, head of EADS' defence and security division, said that if Germany, France and Spain don't place firm orders by the summer, the Talarion unmanned air vehicle project could be put on hold.
Spokeswoman Annette Fuellenbach said Zoller was not threatening an ultimatum and EADS remains ``fully committed to the Talarion project.' However, she noted that ``if we do not get a customer commitment for financing we nevertheless have to freeze the project after the preliminary design review due to the fact that we need customer requirements to go further.'
EADS has ``invested and pre-financed heavily in this project,' spending ¤100 million ($144 million), she said. The total cost is estimated at ¤1.5 billion. EADS unveiled its Talarion unmanned air vehicle at the Paris air show last June. The name derives from the winged sandals of Hermes in the Greek mythology.
Airbus and its parent company EADS are already in a funding stand-off with European governments over their A400M military plane. Airbus CEO Tom Enders has threatened to cancel the project without new financial terms. Germany, France and Spain are together with Britain the biggest customers of the seven nations with A400Ms on order. Officials say Airbus is now almost four years behind schedule and more than ¤5 billion over budget.

Copyright Associated Press, 2010

Comments

Comments are closed.