BAE Selling Its 20-Percent Airbus Stake
Posted on: Friday, 7 April 2006, 15:00 CDT
BAE Systems PLC's plan to sell its 20-percent stake in Airbus SA to co-owner European Aeronautic Defense & Space Co. has British workers worried.
Airbus UK, with plants near Bristol and Chester, represents the core of the British civil aerospace industry, employing directly 13,000 people and supporting up to 135,000 jobs throughout the nation's economy.
Without the British company's stake in Airbus, British workers worry about the prospects for layoffs.
BAE's stake in Airbus is estimated to be worth about $4.3 billion, the Financial Times said Friday.
Source: United Press International
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