Paris and Berlin are fighting over control of the company
Airbus' problem du jour: German anger Published on June 22, 2006 BERLIN, June 22 (UPI) -- Paris and Berlin are fighting over control of the company that owns beleaguered aeronautics giant Airbus SA. A major production delay for Airbus' flagship A380 superjumbo is expected to result in billions in lost contracts and penalty payments and top Airbus officials are being investigating for an Airbus stock deal made just before the latest production delay was revealed. Airbus, based in France, is run by European Aeronautic Defense & Space Co., in which German government and private interests hold a combined 30 percent interest with French government and private interests holding an equal share. That co-equal structure was built into the formation of EADS. German officials Tuesday rejected demands by French Prime Minister Dominique de Villepin that Paris get more control of EADS, the Guardian reported. \"The French have finally got to understand that this cannot be a state-run but a normal business,\" an insider said. \"This cannot drag on for six months or a year as there are three major problems to be sorted out which cannot wait for a political solution.\" The production delays, a paralyzing ownership row and criminal investigations of Airbus executives are expected to drive customers towards the French company's archrival, Boeing Co.
Airbus' problem du jour: German anger Published on June 22, 2006 BERLIN, June 22 (UPI) -- Paris and Berlin are fighting over control of the company that owns beleaguered aeronautics giant Airbus SA. A major production delay for Airbus' flagship A380 superjumbo is expected to result in billions in lost contracts and penalty payments and top Airbus officials are being investigating for an Airbus stock deal made just before the latest production delay was revealed. Airbus, based in France, is run by European Aeronautic Defense & Space Co., in which German government and private interests hold a combined 30 percent interest with French government and private interests holding an equal share. That co-equal structure was built into the formation of EADS. German officials Tuesday rejected demands by French Prime Minister Dominique de Villepin that Paris get more control of EADS, the Guardian reported. \"The French have finally got to understand that this cannot be a state-run but a normal business,\" an insider said. \"This cannot drag on for six months or a year as there are three major problems to be sorted out which cannot wait for a political solution.\" The production delays, a paralyzing ownership row and criminal investigations of Airbus executives are expected to drive customers towards the French company's archrival, Boeing Co.