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07/04/2006
BAE confirms 'talks' over sale of Airbus stake
British aerospace group BAE Systems has confirmed that it is involved in discussions with EADS over plans to sell its 20% stake in European aircraft maker Airbus.
The Franco-German group EADS owns the remaining 80% of Airbus.
BAE stressed that discussions are at an "early stage" and a further announcement would be made "if and when appropriate".
BAE said that they wished to concentrate on their main defence business, which the firm hopes to expand in the US.
If the sale goes through, BAE would be expected to earn around £3 billion.
The announcement has raised concerns about the future of thousands of UK jobs. BAE employs around 13,000 staff in the UK, in Airbus factories in north Wales and Bristol.
The Amicus union expressed concern about the impact any potential sale would have on UK jobs.
In a statement, the union said: "We want to find out if production will remain in the UK or whether it will be shifted to the countries where the new buyers are based."
(KMcA)
The Franco-German group EADS owns the remaining 80% of Airbus.
BAE stressed that discussions are at an "early stage" and a further announcement would be made "if and when appropriate".
BAE said that they wished to concentrate on their main defence business, which the firm hopes to expand in the US.
If the sale goes through, BAE would be expected to earn around £3 billion.
The announcement has raised concerns about the future of thousands of UK jobs. BAE employs around 13,000 staff in the UK, in Airbus factories in north Wales and Bristol.
The Amicus union expressed concern about the impact any potential sale would have on UK jobs.
In a statement, the union said: "We want to find out if production will remain in the UK or whether it will be shifted to the countries where the new buyers are based."
(KMcA)
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