September 6, 2006
GERONIMO!!!!!!!:
BAE agrees to £1.87bn Airbus sale (BBC, 9/06/06)
UK-based defence firm BAE Systems has agreed to sell its 20% stake in plane maker Airbus to EADS for 2.75bn euros (£1.87bn; $3.53bn).BAE estimates the sale will generate about £1.2bn net, allowing it to return about £500m to shareholders.
If shareholders agree to the deal, pan-European EADS, which owns 80% of Airbus, will own the firm outright. [...]
"The board believes that Airbus is facing a challenging short to medium-term outlook," BAE said.
Like 007 fleeing a pilotless plane.... Posted by Orrin Judd at September 6, 2006 6:23 PM
Comments
They'll probably use that $3.5 bn to acquire an interest in Embraer.
jp
Posted by: jefferson park at September 7, 2006 11:14 AMI just bought tickets to fly to Atlanta on an Embraer 170 (on a Delta partner, out of Charlotte). Sure, it's only 38 minutes, but it will be different than an MD-88 and far better than a CRJ or a 737.
In two weeks, I'll submit a detailed trip report, perhaps even with photos.
Posted by: jim hamlen at September 7, 2006 8:55 PM