Posted: Thu, Jan 8, 2004, 7:45 PM ET (0045 GMT)
The European Aeronautic Defense and Space Company (EADS) said Thursday that it expects its space division to break even in the coming year after losses in recent years. The company said a "dramatic" restructuring plan put into place into its Space Division, as well as other organizational improvements, should permit the company to break even before taxes and interest in 2004. The company also credited recent orders, such as Arianespace buying 30 Ariane 5 vehicles from the company for €3 billion (US$3.8 billion), as well as satellite orders totaling €600 million (US$765 million). Overall EASA expects a pretax profit of €1.4 billion (US$1.8 million), primarily from sales of Airbus commercial airliners.

Related Links:

•  Financial Times article
•  Space News article (subscription required)
•  BBC article
•  Reuters article
•  EADS press release