Feeds

BAE to flog Airbus stake

UK jobs safe, company claims

The next step in data security

BAE systems is looking to offload its 20 per cent stake in European aircraft consortium Airbus for up to £3bn, the BBC reports. The move - prompted by a fall in profits in BAE's commercial aerospace division and a desire to focus on its burgeoning "core defence business" - will not affect the 13,000 Airbus workers in the UK, BAE confirmed.

BAE chief executive Mike Turner said: "We believe that now is the right time for us to divest our Airbus shareholding to allow us to concentrate on our core transatlantic defence and aerospace strategy."

Accordingly, BAE is in talks with Franco-German group EADS, which own the rest of Airbus. The company said: "Discussions are at an early stage and a further announcement will be made if and when appropriate."

BAE's UK Airbus operation comprises two plants at Broughton in North Wales and Filton, Bristol, both dedicated to the design and production of aircraft wings. The former recently announced the creation of 650 new jobs, taking the total workforce to 6,650.

The unions are, understandably, a little jittery at the announcement. The Amicus union's national officer, Ian Waddle, said: "We want to find out if production will remain in the UK or whether it will be shifted to countries where the new buyers are based."

Airbus has now taken 159 orders for the forthcoming A380 - a key component in its battle for domination of the civil aviation skies. It has to date delivered 4,198 aircraft of all types from 6,376 total orders. Its turnover in 2,005 was around €22.3bn. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Why Oracle CEO Larry Ellison had to go ... Except he hasn't
Silicon Valley's veteran seadog in piratical Putin impression
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.