EADS, the European defence contractor has submitted a new bid to get the contract of refueling aircraft of the US Air Force (USAF). Its rival Boeing's bid is expected to be submitted very soon to the Pentagon. The contract has been long delayed and it is worth 35 billion dollars.

The World Trade Organization (WTO) has been investigating the fact that whether the company Boeing receives any illegal subsidies from the government of US but the agency has decided to postpone its decision on this matter.

EADS' top defense executive has said that because of shrinking European defense budgets, European Aeronautic Defense and Space Co. is banking on growing in global markets, a strategy it is ready to back up with acquisitions of non-European companies.

Stefan Zoller, head of EADS' $6.7 billion defense unit, was quoted as saying by the Financial Times Germany newspaper, "European growth is over. We now have to pursue a global strategy."

Zoller further added that strategic acquisitions will be part of that strategy, without giving details on potential targets.

Troubled by cost overruns on two of its biggest airplanes - European Aeronautic, Defence & Space Co. has scrapped its annual dividend for the first time since 2000 when the company was formed by the merger of DaimlerChrysler Aerospace of Germany, Aérospatiale-Matra of France, and Construcciones Aeronáuticas of Spain.

With the intention to take up combined projects in the regions of engineering and IT, EADS Innovation Works, the technology division of global aerospace major EADS (European Aeronautic Defence and Space Company) kicked off its research & technology (R&T) branch in Bangalore.
 
EADS Innovation Works India would look after and broker research and technology projects for the EADS business divisions as well as corporate R&T organization.

In the third quarter of 2009, European aerospace giant EADS, which is the owner of Airbus, lost 87m euros ($130million) as the weak US dollar affected its results. Back in the July-September quarter a year ago, the company made a profit of a 679m Euro.

In the economic recession, EADS has also seen orders for its aircraft decline.

Many of the firm’s costs are paid in euros however many of its aircraft are being paid for in dollars, as a result a fragile dollar against the euro reduced the profit for the company.