Bloomberg News

EADS Considers Setting Up Bank, Bregier Tells Welt am Sonntag

July 14, 2012

European Aeronautic, Defence and Space Co. is considering setting up a bank for its cash reserve of about 10 billion euros ($12.2 billion) as protection against the euro-area debt crisis, Welt am Sonntag reported, citing Airbus SAS Chief Executive Officer Fabrice Bregier.

The euro’s decline against the dollar has a positive side for Airbus because the plane maker, while based in Europe, does most of its business in dollars, the Berlin-based newspaper citing Bregier as saying in an interview.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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