Spain "very optimistic" on Airbus A400M

"Spain is "very optimistic" a deal will be reached to rescue Europe's largest defence project, the delayed Airbus (EAD.PA) A400M military transport plane, defence minister Carme Chacon said on Monday.

Seven European NATO nations have agreed to renegotiate their contract with Airbus parent EADS to try to prevent production delays and financial losses derailing the 20 billion euro ($29.3 billion) project.

They have called a meeting for mid-October in Germany. Asked how optimistic she was about the outcome of that meeting, Chacon said, "A lot. Spain is very optimistic about our capacity to agree and co-operate in our goal, which is a strong policy for the European defence industry." reuters