EADS denies deal over Airbus interest

Published 9:00 pm Sunday, January 28, 2007

European Aeronautic Defence and Space Co. shares spiked Monday based on a report that the company is considering selling part of its stake in Airbus to Russian state interests. However, EADS officials denied the story.

A French publication reported that Russia’s Deputy Prime Minister will be in Paris this week to meet with French President Jacques Chirac as well as EADS and Airbus executives. The Russian government wants to buy up to 20 percent interest in Airbus, according to the online story in Capital, a business magazine.

The incident is the latest in a series of denials and clarifications that surfaced recently in the aerospace industry.

In mid-January, UPS was rumored to be canceling its A380 freighter order. Last week, Emirates denied a report that it planned to buy additional Boeing 777s to tide the Dubai-based airline over until Airbus delivers its A380s. Finally, Airbus officials last week downplayed an account that they had solved all of the wiring problems that delayed their A380 super jumbo jet.