EADS reported a huge plunge in its full year profits and revenues for the year 2012 as sales were driven by increased deliveries at its Airbus division. However, fourth quarter profits for the fiscal year 2012 dropped as EADS paid hefty restructuring charges and faced bad merger deals. Also, the company stated that it would not use raffish lithium-ion batteries in its oncoming Airbus A350 plane due to recent Dreamliner problems.
Britain’s BAE Systems and its rival EADS confirmed that they were talking on a $48 billion, or£30.4 billion, merger that could create the world’s second-largest aerospace, defense and security group. The merged equity is expected to generate approximately £60 billion revenues annually.