EADS hopes for dollar supplier payments

Posted on 13 Mar 2008 by The Manufacturer

EADS, parent company of Airbus, has expressed its wish to pay its suppliers in dollars to reduce the currency risk.

In 1997 the firm lost £767 million ($1.5 billion) in 1997 as a direct result of currency issues – mainly due to the discrepancy between its consumers’ payments, which are in dollars, and its suppliers’ payments, which are in euros.

“The ability to pay in dollars is something we will look on favourably in future when negotiating contracts with suppliers,” said an EADS spokesman.