FlightGlobal.com
Home
Premium
Archive
Video
Images
Forum
Atlas
Blogs
Jobs
Shop
RSS
Email Newsletters
You are in:
Home
Aviation History
1999
1999 - 1632.PDF
Europe's idea challenging the USA's aerospace dominance by gathering its major concerns under one umbrella has made little progress since its conception CHRIS JASPER/LONDON WHEN THE world's aerospace manu facturers last gathered in Paris, die ful filment of Europe's grand aim of gathering its major aerospace players under one umbrella seemed just around the cor ner. Yet two years on, as the attention of the avi ation world once again turns to Le Bourget, it is hard to resist the conclusion that European con solidation has advanced hardly at all, and that, according to some measures, it has receded. The planned merger between British Aerospace and GEC's Marconi Electronics division dealt a hammer blow to the cause of pan-European consolidation when it was announced in January. The all-UK deal killed off a potential merger between BAe and Europe at the crossroads Germany's DaimlerChrysler Aerospace (Dasa), and was agreed following the collapse of nego tiations between GEC and France's Thomson- CSF The deal thus represented the triumph of national consolidation over alternative mergers which would have better advanced the cause of European unity. In France, too, consolidation has progressed along national lines, with Lagardere agreeing the transfer of Matra Hautes Technologies to Aerospatiale. While the drive towards the foundation of a single European aerospace and defence compa ny (EADC) has spluttered out, the goal of reforming the multi-national Airbus consor tium into a single corporate entity (SCE) like wise seems equally distant. Though the two aims do not need to be pursued in tandem, there is no doubt that the BAe-GEC deal and its impact on prospects for the early formation of an EADC had a knock-on effect on SCE moves, with France dragging its heels as it mulled over an unexpected twist in the merger process. Yet as the dust settles on the two mega-deals - both of which are set to get the green light from the regulatory authorities - there is evi dence to suggest that the cause of European unity has not been fatally damaged. The position of France is particularly crucial to further progress, and while French sensibili ties were offended by BAe's machinations, the collapse of the UK giant's deal with Dasa at the same time gave Aerospatiale and other French players vital breathing space. Rather than falling further behind the game, France has therefore been able to play catch-up, with restructuring by companies including Thomson and Alcatel Valuation of the Airbus partners'assets - such as the Toulouse widebodsy assembly site - is crucial to its transformation into a single corporate entity 44 FLIGHT INTERNATIONAL 9 -15 June 1999
Sign up to
Flight Digital Magazine
Flight Print Magazine
Airline Business Magazine
E-newsletters
RSS
Events
