BAE and Airbus
Posted: Fri Apr 07, 2006 2:09 amAerospace giant BAE Systems has announced plans to sell its stake in the Airbus project, leading to union fears about the future of thousands of jobs.
The company confirmed in a short statement that it had entered into discussions with its Franco-German Airbus partner EADS over the sale of its 20% stake.
Discussions were said to be at an early stage but the announcement confirmed months of rumours and led to fresh calls from union leaders for urgent talks.
Around 13,000 workers are employed by BAE Systems building wings for the Airbus, mainly at Broughton in north Wales and Filton, Bristol.
The decision to sell the stake in Airbus is believed to have been taken at a board meeting earlier this week, but was only formally confirmed on Friday morning.
The company said in a brief statement: "BAE Systems announces that it has entered into discussions with EADS regarding the sale of its 20% shareholding in Airbus. Discussions are at an early stage and a further announcement will be made if and when appropriate."
Airbus was making no comment at its headquarters in Toulouse, France.
Union leaders called for urgent talks with the company to discuss any impact on jobs of the announcement. As well as the 13,000 workers directly involved, tens of thousands of other employees work for companies which supply BAE Systems.
Ian Waddle, national officer of the Amicus union, said: "Obviously we have concerns, particularly because of uncertainty about any impact on jobs. 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."
Unions said there had been rumours for months that BAE would sell its stake in Airbus when the price was right. There has been speculation that BAE will receive up to
The company confirmed in a short statement that it had entered into discussions with its Franco-German Airbus partner EADS over the sale of its 20% stake.
Discussions were said to be at an early stage but the announcement confirmed months of rumours and led to fresh calls from union leaders for urgent talks.
Around 13,000 workers are employed by BAE Systems building wings for the Airbus, mainly at Broughton in north Wales and Filton, Bristol.
The decision to sell the stake in Airbus is believed to have been taken at a board meeting earlier this week, but was only formally confirmed on Friday morning.
The company said in a brief statement: "BAE Systems announces that it has entered into discussions with EADS regarding the sale of its 20% shareholding in Airbus. Discussions are at an early stage and a further announcement will be made if and when appropriate."
Airbus was making no comment at its headquarters in Toulouse, France.
Union leaders called for urgent talks with the company to discuss any impact on jobs of the announcement. As well as the 13,000 workers directly involved, tens of thousands of other employees work for companies which supply BAE Systems.
Ian Waddle, national officer of the Amicus union, said: "Obviously we have concerns, particularly because of uncertainty about any impact on jobs. 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."
Unions said there had been rumours for months that BAE would sell its stake in Airbus when the price was right. There has been speculation that BAE will receive up to
