- Dassault Aviation SA (OTC:DUAVF) expressed frustration over a dispute with partner Airbus SE (OTC:EADSY) about the next phase of work on the European Future Combat Air System (FCAS) fighter project and stated that it was important to establish clear leadership, reported Reuters.
- FCAS is designed to replace the Eurofighter and Dassault's Rafale with a combination of manned and unmanned aircraft from 2040.
- "I accept to be leader if I have the leverage to be leader," the report quoted Dassault's Chief Executive Eric Trappier, referring to Dassault's responsibility for the core fighter element of the design.
- The report added that Dassault and Airbus have been at odds over responsibility for flight controls.
- "We have made enough efforts," Trappier said, adding talks had been 'difficult' in the face of new demands since September.
- Defence analysts speculate that differences over FCAS could sink the project and reshuffle industry alliances.
- Dassault Aviation today reported its FY21 results, with adjusted operating income increasing to €527 million from €261 million in 2020 and adjusted net sales of €7.23 billion versus €5.49 billion the previous year.
- The company expects to deliver 13 Rafale and 35 Falcon jets in 2022. It anticipates net sales to be down compared to 2021.
- Price Action: EADSY shares closed at $28.83 on Thursday.
