In 2009, Airbus acknowledged that the programme was expected to lose at least €2.4 billion and could not break even without export sales. A PricewaterhouseCoopers audit projected that it would run €11.2 billion over budget, and that corrective measures would result in an overrun of €7.6 billion. On 24 July 2009, the seven European nations announced that the programme would proceed and formed a joint procurement agency to renegotiate the contract. On 9 December 2009, the "Financial Times" reported that Airbus requested an additional €5 billion subsidy. On 5 January 2010, Airbus repeated that the A400M may be scrapped, costing it €5.7 billion unless €5.3 billion was added by partner governments, delays had already increased its budget by 25%. Airbus executives reportedly regarded the A400M as competing for resources with the A380 and A350 XWB programmes.