BAE Systems considering selling stake in Airbus

BAE Systems considering selling stake in Airbus

UK based defense and aerospace group BAE Systems has said that they are indeed considering selling off their 20% stake in European aircraft-maker Airbus. They are currently talking with EADS, the Franco-German group that owns the rest of Airbus for a possible deal.

BAE said in a statement confirming these talks: “Discussions are at an early stage and a further announcement will be made if and when appropriate.” And they also added that the deal would not see any changes for Airbus’ 13,000 UK staff.

Airbus UK division design and build wings for BAE’s fleet of large commercial jets. However, the deal would mean that no British company would have a stake in the ownership of the huge manufacturing sites at Broughton in North Wales and Filton near Bristol.

The company can gain as much as UKP 3 Billion through such a deal. BAE Chief Executive Mike Turner added: “We believe that now is the right time for us to divest our Airbus shareholding to allow us to concentrate on our core transatlantic defense and aerospace strategy.”