DAIMLER-BENZ, THE parent company of Daimler-Benz Aerospace (DASA), has called into question the future of its troubled Dutch subsidiary, Fokker.
According to Daimler-Benz president and former DASA chief Jurgen Schrempp, Fokker's future depends on whether the Dutch Government agrees to pay its share of a rescue package for the company by the end of the year.
Dutch politicians have already expressed reluctance to support the company with any further subsidies. Analysts believe that Schrempp, who was responsible for DASA acquiring a 51% holding in Fokker in 1993, was indulging in a sabre-rattling exercise.
Fokker is thought to need a cash injection of between DM1.5 billion ($1 billion) and DM2 billion. DASA has already pumped DM1.3 billion of support into the company and provided bridge financing, which guarantees Fokker's obligations until the end of the year.
Source: Flight International
