Cobham secures contract with Airbus worth up to £136m
Aerospace and defence firm Cobham has bagged a communications contract with Airbus worth up to 200 million US dollars (£136 million).
The deal will see Cobham kit out Airbus's single-aisle and long-range aircraft with air to ground communications technology from 2018. It will also supply electronic flight bags, in-flight entertainment and cabin distribution equipment.
Eiji Kawaishi, senior vice-president of Cobham, said: "This is the second major contract won with Airbus in two months to equip their A320neo aircraft family. We are extremely proud of the confidence shown by Airbus in awarding Cobham this dual selection."
In April, Cobham was forced to launch a £500 million emergency rights issue to prop up its balance sheet following a profit warning. Cobham said the move was aimed at mitigating the risk of its debt to earnings ratio rising above 3.5 times its earnings.