The French shareholders speak with one voice

That has happened during these days that led to the resignation of Christian Streiff

Manfred Bischoff: We would first like to put an end to the rumour that the Board of Directors would have been in disagreement with Christian Streiff on the Power 8 plan. On the contrary, the Council of 29 September gave its unanimous approval. But as the shareholders had requested emergency presentation, the Chief Financial Officer Hans Peter Ring (Editor's note) had no time to validate all aspects. This is the reason for which approval has been postponed until a new Board, the following Tuesday. But I repeat: the Board of Directors supported the plan unanimously. He has not softened. On the contrary, we even discussed whether if the measures envisaged would be sufficient or not.

Similarly, at no time Christian Streiff did us share a any threat of resignation during this Council. Our surprise, is that two days later that we have received, Arnaud and me, his letter of resignation. Previously, he did had spoken to me or Arnaud. We tried to contact him the same day, without success. We finally reached an appointment the next day, to hear his explanation. We have him part of our disappointment with its lack of professionalism, but we have nevertheless heard what he had to say and have agreed to suspend his resignation the time to settle the issue.

Arnaud Lagardère: These are the facts as they occurred. I would simply add this: we regularly evokes a battle within EADS, the French camp which I would be the representative and the German camp represented by DaimlerChrysler. Manfred and I, we sometimes have differences, but there was never a conflict of interest between DaimlerChrysler and Lagardère. We are the main private shareholders of EADS, we want the success of the Group and work in the interest of the group, its employees, its shareholders and its customers.

Why not have granted to Christian Streiff managerial autonomy he claimed

Mr. b.: he complained of the degree of integration of Airbus within EADS. However, the Board of EADS had clearly indicated his desire to have more visibility on Airbus, after problems emerged last summer with the A380. One of the main causes of the current difficulties was precisely the lack of visibility of the Council on Airbus. We had given considerable autonomy to Noël Forgeard and the result is a skid of EUR 5 billion on the A380 programme. So, we had no intention to return to this model. Airbus is a too important entity within EADS to be managed as an independent company.

A. l.: you know that we call for our part for another system of governance for a long time. We had considered it as early as last April with Thierry Breton, it is together that we decided it. Therefore, we're there. I note that the market reaction suggests that we took the right decision

Several questions remain unanswered in the current plan, as the number of threatened jobs. Will Louis Gallois have to submit a new version to the Board of Directors

A. l.: there is no new plan. Power 8 decided unanimously and Louis Gallois has now all the operational necessary powers to implement it. Items remain to be completed, but it will be made in the next few weeks, without any need. It is clear that this plan will go through workforce reductions in coaching. There will be efforts to do so, in France as in Germany.

Are there differences between shareholders the opportunity to launch the new A350 XWB, and when the decision will be made

Mr. b.: all shareholders are fully behind this program. But before the launch, we must ensure that we can do, both technically and financially. This is what we are considering: we will take the decision in the coming weeks.

A. l.: I considered that this program is necessary to the Boeing 787 and Airbus customers expectations, but we must first meet all the conditions both technical and financial for its success.

Is the entry of the German State with a capital of EADS news

Mr. b.: should ask DaimlerChrysler and the German Government. Dieter Zetsche (President and CEO of DaimlerChrysler, Editor's note) clearly stated that he wanted to maintain a minimum of 15 of the capital. The participation of DaimlerChrysler today is 22.5, it could transfer 7.5. And Dieter Zetsche has said that he would in full agreement with the German Government. There are consultations with it on this subject. But the rest is speculation. For my part, I would remind you only my taste moderate harvest of public interests in private companies...

A. l.: my position on the participation of State is a little different, since we have a partnership with the French State, in the Sogeade. The French shareholders speak with one voice. The Government gives us the management of this "joint venture", and recent events have confirmed the proper functioning of this partnership.

Mr. b.: and for DaimlerChrysler, it was even a condition for base during the creation of EADS, that the leadership of the French shareholders either in private hands.

The Spanish State for its part would strengthen its participation, currently 5.5 Would there you be better

Mr. b.: we have always said that we support an increase in the Spanish participation, but not on the part of States. For DaimlerChrysler, it is indeed important for "leadership" to private shareholders.

A. l.: we have no intention of calling into question our shareholders Pact, at the level of the composition of the shareholding. We have a cooperation of trust with DaimlerChrysler and we do not want to change that.

You also still opposed to an entry of the Russians on the Board of Directors of EADS Continue to repurchase securities on the market

A. l.: the Russia is a large country, particularly in aviation matters, and we are keen to continue to strengthen our cooperation already very active. We do not know whether or not the Russians continue to buy shares, but if they want to increase their cooperation with EADS, they do not need to go this route.