The outgoing chief of European aerospace and defense giant EADS says the organization planned to make up to 350 million euros ($461 million) in savings by the end of 2012.

"We will have from now the same process within the group - in personnel administration, purchasing, information technology and finances," Louis Gallois told the economic weekly Wirtschaftswoche in an interview published Saturday.

"We want to save 350 million euros more by the end of the year," he added.

Gallois said the savings could boost pre-tax earnings by a quarter compared to a year ago. He added that he expected the group's new mid-range carrier A320 Neo to bring in a "significant increase in profits." The aircraft is scheduled for delivery from 2015.

The Frenchman is to hand over his post in June to German Thomas Enders.

EADS, which was formed in 2010 by the merger of German, French and Spanish aerospace conglomerates, develops and markets civil and military aircraft.

dfm/ccp (dpa, AP)