When Boeing announced its 787 Dreamliner project, it claimed the lower operating costs of this airplane would make it a serious threat to the Airbus A330. Publicly, Airbus initially rejected this claim, stating that the 787 was itself just a reaction to the A330, and that no response was needed to the 787. On 10 December 2004 the boards of EADS and BAE Systems, then the shareholders of Airbus, gave Airbus an "authorisation to offer (ATO)", and formally named it the A350.