A350 Funding In Place: UPDATE

It's reported this afternoon that the EADS shareholders have reached an agreement on a $13 billion USD financing package that will let the board move ahead with the official launch of the A350WXB program tomorrow.

As expected, la belle republique is going to front some of the cash but how much is not yet clear. It is said EADS will fund the project initially from its own war chest to the tune of 4 billion euros and another 4 bn backed by state guarantees from the UK, France, Germany and Spain.

Stay tuned