Aircraft
BAE Systems has taken a further step towards the sale of its 20% stake in Airbus to EADS, with the issuance of a Put Option Intention Notice.
Under the Airbus Shareholders Agreement signed in 2001, the move will mean BAE is able to formally exercise its put option, although it will not be obliged to do so. EADS says the issuance marks a "new phase" in the discussions.
"At this point, there can be no certainty as to the result of this phase, however the negotiations will now be governed by the guidelines within the Airbus Shareholders Agreement," says EADS.
BAE said last month that it intends to sell its 20% stake in the aircraft manufacturer, which EADS estimates to have a value of around €3.5 billion ($4.2 billion.)
Click here to check out the highest rated articles
For exclusive news and expert analysis every week subscribe to Flight International print edition. Included with your subscription are 4 FREE issues and FREE delivery to your home or office.
Low Cost Carriers - Who will survive & thrive?
The Future of Low Cost Carriers is a detailed assessment of the low cost carrier market worldwide, examining the growth of the business and how it will develop in the future.
