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BAE Systems is losing earnings

London, UK - Accused of a GBP 3bn excess in expenses

BAE Systems, the major European group for defence contracts, has recorded a decrease in gross earnings from GBP 796m in 2002 to GBP 760m in 2003. The group did not manage to finalize a GBP 13m contract with the Royal Air Force and was recently accused of a GBP 3bn excess in expenses in the British Defence's budget. BAEs Systems is currently aiming to reach an agreement with the USA.

AVIONEWS - World Aeronautical Press Agency - 59221
Rome, Italy, 02/27/2004 12:09
AVIONEWS - World Aeronautical Press Agency

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