Burgeoning cost overruns at two of its biggest aircraft programs pushed European Aeronautic Defense and Space (EADS) into a steep loss for 2009, the International Herald Tribune reported.
But EADS, the parent company of Airbus, expressed confidence that new financing for its A400M military transport plane and a recovery in demand for commercial aircraft would help restore it to profitability this year.
The net loss of $1.04 billion was the second blow this week for the company, the world's largest plane maker. Hours earlier, EADS and a US partner, Northrop Grumman, confirmed that they would not bid for a $40 billion contract to build aerial refueling tankers for the US Air Force.
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