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EADS to hold news conference about tanker

EADS is planning to host a press conference later today regarding the tanker contract for the U.S. Air Force.

Speculation is that EADS will announce that it is planning to submit a bid in the tanker competition. The company’s previous partner on the deal, Northrop Grumman, pulled out last month and EADS has been searching for another U.S. company to partner with.

Boeing is planning to offer the Air Force a tanker based on its 767 commercial airliner. The Pentagon said it will extend the deadline to bid from May 10 to July 9 if EADS decides to enter the competition.