Paris - As with its German sites, European aircraft manufacturer Airbus has failed in its attempt to sell two French factories, Airbus's parent company EADS announced on Wednesday.

EADS said in a press statement that negotiations with French aircraft supplier Latecoere on the sale of the Airbus sites in Meaulte and Saint Nazaire Ville have been terminated because "a viable solution could not be finalized within the required time frame, in particular due to the current difficult financial environment."

This setback will not change the company's site-divestment strategy, EADS said.

Both sites will be "carved out" into a separate unit, as was done with the German Airbus sites at Augsburg, Nordenham and Varel after they failed to find buyers earlier this year.

"This will prepare the sites for a partnership and sale at a later stage," the company said.

Negotiations regarding the sale of the sites at Filton and Laupheim are ongoing and could be concluded "in the next few weeks," EADS said.

The sale of the sites is a cornerstone of the so-called Power 8 cost-cutting programme intended to bring Airbus some 7.1 billion euros (11 billion dollars) in additional cashflow and earnings before interest and taxes (EBIT) by 2010.

"Given the progress and prospects registered on the Power 8 programme so far, EADS and Airbus maintain the EBIT and Power 8 savings targets," the company said. (dpa)