European aerospace and defense giant and Airbus parent EADS (FR:005730:eads(euro aero def eur1
Last: 13.45+0.23+1.70%12:40pm 01/13/2009
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FR:005730 13.45, +0.23, +1.7%) on Tuesday confirmed its financial targets for 2008. "None of our objectives are changed because of the economic crisis," EADS Chief Executive Louis Gallois said at a press conference. He stressed, however, that the top priority for the group at the moment is cash preservation and that the company doesn't plan to make a major acquisition in the current climate. Regarding Airbus, Gallois said EADS was ready to increase financing support to customers in order to protect deliveries in 2009. He also said that Airbus was ready to adjust production rates if necessary to avoid building inventories.
