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From 116,500 to 117,198!
A German, Italian, Spanish mendicant living off US alms: EADS!
05/03/2009

Another giant that is dominating the defence industry for long is EADS, which deals in aerospace, defence and related products. Its military products span the range of A400M, C212 and CN235 fighter planes. EADS is a unique example of three individual entities coming together from three different countries making history. EADS is a result of a gigantic merger of three big European giants; DaimlerChrysler Aerospace AG (DASA) of Germany, Aérospatiale-Matra of France, and the Construcciones Aeronáuticas SA (CASA) of Spain in 2000. Since then, EADS has become the largest European aerospace and defence contractor. The German-Spanish consortium is one of the highest revenue earners among European corporations. Its revenue in 2007 was €39.12 billion; and according to the latest official available figures, it has generated €29.44 billion in the first nine months of 2008. Noteworthy is the fact that the revenue it generates annually is bigger than the GDP of some countries across the globe. Noteworthy also is the fact that in 2007, during the days of the global meltdown, when a majority of American and European conglomerates were forced to lay off their employees, EADS was splendiferously well endowed with 116,500 employees. The year 2008 ended with 117,198 similarly glorious employees.

Although Germany, UK, Spain, Italy, Saudi Arabia, Austria and even India have been EADS’ core customers, EADS has gone to extreme extents to encouragingly supply arms to controversial countries like Pakistan to sustain its sales. But one suspects such days are gone from this year onwards, as EADS has won a gigantic $35 billion defence contract – jointly with Northrop Grumman – from the US Air Force for aerial refueling tankers (the KC-45 series). Oh, before we forget, they just mentioned that the contract is expected to grow to $100 billion.

By:- B&E
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