Fundamental changes are being made. We are accelerating the integration of our Divisions; improving our industrial processes; sharpening the focus of our technology innovation; and continuing to build our international presence.

INTEGRATION will reach far deeper than before, creating a common purpose across the Group. We have taken concrete and radical steps. Airbus is now wholly owned by EADS. Functions such as Finance, Human Resources, Research & Technology and Sourcing are being integrated, enabling new efficiencies and faster reactions. Last year’s shocks have prompted a renewed focus on how integration can make the Group stronger.

IMPROVEMENT of our industrial model is a matter of urgency. Every Division has initiatives to reduce costs, improve industrial efficiency and ensure delivery on-quality, on-specification, on-cost and on-time. The most important and visible is the Airbus Power8 reorganisation programme that will speed up development times, maximise cash and cut costs.

INNOVATION enables us to set the technology standard that others must follow. We have a record of doing this, as we did through “fly-by-wire” aircraft controls or “all-weather” helicopters, to name a few examples. By centralising responsibility for the entire EADS Research & Technology budget, we are putting greater resources behind developing new technologies aligned with the Group’s strategic growth areas, aiming for higher returns on investment at the end of the innovation pipeline.

INTERNATIONALISATION remains important to our long-term growth. Through our Global Industrial Development function, EADS is actively seeking to become an integral part of the leading aerospace and defence growth markets worldwide. Being active in these markets will also give EADS access to the best technology and specialist know-how available.