| Airbus was incorporated in 2001 under
| |
| | of the announcement, the value of
|
| French law as a simplified joint stock
| |
| | associated stock plunged by up to a
|
| company or S.A.S. (Société par Actions
| |
| | quarter in a matter of days, although it
|
| Simplifiée). Airbus was formerly known
| |
| | soon recovered somewhat. Allegations of
|
| as Airbus Industrie.
| |
| | insider trading on the part of Noël
|
| Airbus was jointly held by EADS (80%) and
| |
| | Forgeard, CEO of EADS, its majority
|
| BAE Systems (20%), Europe's two largest
| |
| | corporate parent, promptly followed. The
|
| defence contractors. BAE Systems
| |
| | loss of associated value caused great
|
| announced its intention to sell its 20%
| |
| | concern on the part of BAE, The
|
| share of Airbus in April 2006 and
| |
| | Independent describing a "furious row"
|
| exercised its "put option" in June 2006
| |
| | between BAE and EADS, with BAE believing
|
| to force EADS to buy the share. The put
| |
| | the announcement was designed to depress
|
| option appointed investment bank
| |
| | the value of its share. A French
|
| Rothschild to establish an independent
| |
| | shareholder group filed a class action
|
| valuation. Rothschild's valuation,
| |
| | lawsuit against EADS in a Dutch court for
|
| reported in 2006, was L1.9 billion
| |
| | failing to inform investors of the
|
| (€2.75 billion), well below the
| |
| | financial implications of the A380 delays
|
| expecations of BAE and EADS. Unhappy with
| |
| | while airlines to which deliveries were
|
| the valuation, BAE appointed independent
| |
| | promised are expected to demand
|
| auditors to investigate the value of its
| |
| | compensation. As a result, EADS chief
|
| 20% share. On 6 September 2006 the BAE
| |
| | Noël Forgeard and Airbus CEO Gustav
|
| board announced it would recommend to
| |
| | Humbert announced their resignations on 2
|
| shareholders to sell its share for
| |
| | July 2006. Forgeard's severance package
|
| €2.75bn (L1.87bn or $3.53bn).
| |
| | is expected to include three years' of
|
| Airbus employs around 57,000 people at
| |
| | salary plus the 2005 bonus; a total of at
|
| sixteen sites in four European countries:
| |
| | least €6 million, possibly topping €7
|
| Germany, France, the United Kingdom, and
| |
| | million.
|
| Spain. Final assembly production occurs
| |
| | On July 2nd 2006 Rothschild valued BAE's
|
| at Toulouse (France) and Hamburg
| |
| | stake at L1.9 billion (€2.75 billion);
|
| (Germany). Airbus also has three
| |
| | well below the expectation of BAE,
|
| subsidiaries in the USA, Japan and China.
| |
| | analysts and even EADS. On 5 July 2006
|
| Airbus Industrie was formally set up in
| |
| | BAE appointed independent auditors to
|
| 1970 following an agreement between
| |
| | study why the value of its share of
|
| Sud-Aviation (France) and Deutsche
| |
| | Airbus had fallen from the original
|
| Airbus—itself a German aerospace
| |
| | estimates to the Rothschild valuation.
|
| consortium consisting of Bölkow,
| |
| | The pushed back any potential sale until
|
| Dornier, Flugzeug-Union Süd, HFB,
| |
| | September at the earliest. [11] On 6
|
| Messerschmitt, TG Siebelwerke, and VFW.
| |
| | September 2006 BAE agreed to sell its
|
| The grouping was joined by CASA of Spain
| |
| | stake in Airbus to EADS for L1.87 billion
|
| in 1971. Each company would deliver its
| |
| | (€2.75 billion, $3.53 billion), pending
|
| sections as fully equipped, ready to fly
| |
| | BAE shareholder approval. On 4 October
|
| items. The name "Airbus" was taken from a
| |
| | shareholders voted in favour of the sale.
|
| non-proprietary term used by the airline
| |
| | On the 9th October 2006 Christian
|
| industry in the 1960s to refer to a
| |
| | Streiff, Humbert's successor, resigned
|
| commercial aircraft of a certain size and
| |
| | due to differences with parent company
|
| range, for this term was acceptable to
| |
| | EADS over the amount of independence he
|
| the French linguistically.
| |
| | would be granted in implementing his
|
| In 1972 the A300 made its maiden flight
| |
| | reorganization plan for Airbus. He will
|
| and the first production model, the
| |
| | be succeeded by EADS co-CEO Louis
|
| A300B2 entered service in 1974. Initially
| |
| | Gallois. This brings Airbus under more
|
| the success of the consortium was poor
| |
| | direct control of its parent company.
|
| but by 1979 there were 81 aircraft in
| |
| | Civilian products
|
| service. It was the launch of the A320 in
| |
| | The Airbus product line started with the
|
| 1981 that guaranteed Airbus as a major
| |
| | A300, the world's first twin-aisle,
|
| player in the aircraft market - the
| |
| | twin-engined aircraft. A shorter,
|
| aircraft had over 400 orders before it
| |
| | re-winged, re-engined variant of the A300
|
| first flew, compared to 15 for the A300
| |
| | is known as the A310. Building on its
|
| in 1972.
| |
| | success, Airbus launched the A320 with
|
| It was a fairly loose alliance but that
| |
| | its innovative fly-by-wire control
|
| changed shortly after major defence
| |
| | system. The A320 has been, and continues
|
| mergers in 2000. DaimlerChrysler
| |
| | to be, a great commercial success. The
|
| Aerospace (successor to Deutsche Airbus),
| |
| | A318 and A319 are shorter derivatives
|
| Aérospatiale (successor to Sud-Aviation)
| |
| | with some of the latter under
|
| and CASA merged to form EADS. In 2001 BAE
| |
| | construction for the corporate biz-jet
|
| Systems (formerly British Aerospace) and
| |
| | market (Airbus Corporate Jet). A
|
| EADS formed the Airbus Integrated Company
| |
| | stretched version is known as the A321
|
| to coincide with the development of the
| |
| | and is proving competitive with later
|
| new Airbus A380 which will seat 555
| |
| | models of the Boeing 737.
|
| passengers and be the world's largest
| |
| | The longer range products, the twin-jet
|
| commercial passenger jet when it enters
| |
| | A330 and the four-engine A340, have
|
| service in late 2007 according to the
| |
| | efficient wings, enhanced by winglets.
|
| revised schedule announced in October of
| |
| | The Airbus A340-500 has an operating
|
| 2006.
| |
| | range of 16 700 kilometres (9000 nautical
|
| BAE sale and A380 controversy
| |
| | miles), the second longest range of any
|
| On April 6th 2006 BBC News reported that
| |
| | commercial jet after the Boeing 777-200LR
|
| BAE Systems was selling its share, then
| |
| | (range of 17 446 km or 9420 nautical
|
| "conservatively valued" at €3.5 billion
| |
| | miles). The company is particularly proud
|
| EUR ($4.17 bn USD). The move was seen by
| |
| | of its use of fly-by-wire technologies
|
| many analysts as a move to make
| |
| | and the common cockpit and systems in use
|
| partnerships with U.S. firms more
| |
| | throughout the aircraft family, which
|
| feasible, in both financial and political
| |
| | make it much easier to train crew.
|
| terms. BAE originally sought to agree a
| |
| | Airbus is studying a replacement for the
|
| price with EADS through an informal
| |
| | A320 series, tentatively dubbed NSR, for
|
| process. However due to the slow pace of
| |
| | "New Short-Range aircraft."
|
| negotiations and disagreements over
| |
| | In March 2006 Airbus announced the
|
| price, BAE exercised its put option which
| |
| | closing of the A300/A310 production line,
|
| saw investment bank Rothschild appointed
| |
| | ending over 30 years of production. The
|
| to give an independent valuation.
| |
| | last delivery will take place in 2nd
|
| In June, 2006, Airbus became embroiled in
| |
| | quarter 2007.
|
| a significant international controversy
| |
| | Until its retirement in 2003, Airbus
|
| over its announcement of a further delay
| |
| | supplied replacement parts and service
|
| in the delivery of its A380. In the wake
| |
| | for the Concorde.
|
