Defense News ~ BERLIN, March 5 (Reuters) - The German Defence Ministry said on Friday the first deliveries of the A400M military transport planes are scheduled for 2014 after an agreement in principle was reached on financing for cost overruns.
In a statement, the ministry said detailed fine-tuning of the agreement would be done in the weeks ahead.
Delays and problems in developing the West's largest turbo-prop engines have pushed Europe's largest defence project billions of euros over budget, forcing seven European NATO nations to step in with a mixture of direct aid and guarantees.
Procurement officials from buyer nations met EADS chief executive Louis Gallois at the German defence ministry.
The A400M was ordered in 2003 to meet a looming shortfall in military and humanitarian airlift capacity among seven nations -- Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey.
(Reporting by Sabine Siebold; writing by Erik Kirschbaum)
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