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Tuesday, February 23, 2010 12:28:41 PM
S.Africa terminates deal to buy Airbus A400M planes
European Aeronautic Defence and Space Company EADS N.V.
EAD.PA
CAPE TOWN,- South Africa's government has terminated a transaction to buy eight Airbus A400M military transport aircraft due to increasing costs and delivery delays, cabinet spokesman Themba Maseko said on Thursday.
Stocks | Industrials
"Cabinet decided to terminate the contract to purchase eight A400M strategic lift aircraft," Maseko told reporters on Thursday. The cancellation of the A400M deal is the first by a country which previously ordered the aircraft from Airbus
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