Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Airbus pushes for stake in U.S.-led German helicopter project

Published 07/05/2017, 04:24 PM
Updated 07/05/2017, 04:30 PM
© Reuters. The logo of Airbus Group is seen on the company's headquarters building in Toulouse, Southwestern France
BA
-
AIR
-
MTXGn
-
LMT
-

By Andrea Shalal

BUECKEBURG, Germany (Reuters) - Airbus urged the German government on Wednesday to ensure domestic firms get a big share of a near 4-billion-euro contract earmarked for the country's next generation of heavy-lift military helicopters.

German defense officials have said they want a low-risk heavy-lift helicopter that already exists, which means the likely supplier will be one of the two biggest U.S. weapons makers - Lockheed Martin Corp (N:LMT) and Boeing Co (N:BA).

Airbus officials say they do not have a helicopter large enough for Germany's likely military's needs, but want to take a close look at the requirements when they are released by the defense ministry, a move that could occur next year.

Europe's biggest aerospace company and seven German firms including engine maker MTU Aero Engines (DE:MTXGn) said on Wednesday they had teamed up to push for a management and maintenance role in the project.

"This is about the future of the German helicopter industry," Wolfgang Schroder, CEO of Airbus Helicopters Deutschland (PA:AIR), told Reuters at a helicopter conference in northern Germany.

The Defense Ministry has proposed spending 3.84 billion euros ($4.35 billion) for the project through to 2029, although the program must still be approved by parliament.

The German firms want the ministry to split the procurement of the helicopters from the work of certifying, managing and maintaining the new aircraft that will go on for decades.

This program is "too big for Germany industry not to be involved," Airbus's Stefan Woelfle told military officials and industry executives at the conference.

"There's nothing else on the horizon," Schroder said, noting that German law did not require a specific amount of German content on major weapons systems, and that many German firms in the sector had been hit hard in recent years by a drop in demand linked to declining oil prices.

'NOTHING RULED OUT'

Airbus and Boeing worked together for five years on a possible heavy-lift helicopter but dropped their plans in 2012 after realizing the effort would be too costly.

Boeing's CH-47 Chinook, already used by eight other NATO countries, will now square off against Lockheed's Sikorsky CH-53K, a redesigned version of the CH-53G that Germany now flies and which the U.S. Marine Corps plans to start using in combat in 2019.

Senior executives from both firms attended the conference.

Wednesday's surprise announcement by Airbus follows talks between U.S. and German firms, and reflects growing concerns in German industry about how much work would be left for them.

Boeing and Lockheed already work closely with German industry and have said they would seek to form partnerships to build and maintain a future German helicopter.

If the ministry decided to award a single contract that included procurement and system maintenance, then Airbus would have to look for a partner and negotiate good terms, but it could also consider submitting a bid of its own, Schroder said.

He said Airbus could bid as a prime contractor, offering a U.S.-made helicopter made by a partner, though any future moves would depend on the terms of the contract.

"I'm not ruling anything out," he said.

© Reuters. The logo of Airbus Group is seen on the company's headquarters building in Toulouse, Southwestern France

($1 = 0.8825 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.