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Last Updated: Sunday, 18 June 2006, 14:52 GMT 15:52 UK
EADS boss admits crisis at firm
EADS co-chief executives, Tom Enders and Noel Forgeard
Mr Enders admits there is currently a crisis at EADS
The joint boss of aerospace group EADS has acknowledged that the current difficulties surrounding both it and its Airbus unit constitute a crisis.

Tom Enders was speaking after a week in which it was announced that the Airbus A380 superjumbo would be delayed, and EADS was hit by insider trading claims.

The claims arose after it emerged Mr Enders's fellow EADS boss Noel Forgeard off-loaded shares in the firm in March.

Mr Forgeard insists he sold the shares before he knew of delays to the A380.

He said that the first he knew of the problems was in April, and that at the time he and other executives were convinced the difficulties could, and would, be rectified.

Mr Forgeard, who was one of six executives to exercise their share options, said he had done nothing wrong and would not be resigning.

'Opportunities'

Mr Enders told the Reuters news agency that "the crisis at Airbus is also a crisis for EADS".

"But every crisis brings opportunities with it," he added.

"Because of this we should not act too hastily and only consider personal consequences and changes in procedure at Airbus."

Airlines are now calling for compensation over the six-month delays to the A380, caused by wiring problems.

Mr Enders and Mr Forgeard both have the title of co-chief executive at EADS, a European consortium.


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