Dominic O’Connell
Win tickets to the ATP finals
FEARS of significant job losses at one of Airbus’s British plants were growing this weekend amid mounting speculation that it would be sold to an American group, Spirit Aerosystems.
Spirit is vying with GKN, the UK engineering group, to be chosen as the “strategic investor” for part of Airbus’s complex at Filton, near Bristol.
Senior industry sources said last night that Spirit was edging ahead, with an announcement from EADS, Airbus’s parent company, expected by the end of the year.
The industry sources said union leaders had been told that up to 600 of the 1,500 staff could be made redundant if Spirit were to win. Separate union sources also said some wing work on Airbus’s planned new plane, the A350, could move to a Spirit plant in America.
A move would break the monopoly that Britain has had on Airbus wing production since the European plane maker was set up more than 30 years ago. It would also pose serious questions over the long-term future of the UK civil-aerospace industry, in which Airbus has been the flagship enterprise for some years.
Airbus yesterday declined to comment. “We will not be saying anything ahead of the announcement,” a spokesman said.
Britain no longer has any direct ownership in Airbus. BAE Systems, a long-term shareholder, sold its 20% stake last year for €2.75 billion (£1.9 billion), leaving EADS, a Franco-German aerospace and defence group, as the sole owner.
After the BAE sale, the government sought to retain influence by calling for the appointment of nonexecutive directors to EADS’s board, and by hinting that it might withhold defence contracts if the Airbus plants were not protected.
Two nonexecutive directors were appointed this year Lakshmi Mittal, the steel tycoon, and Sir John Parker, the veteran British industrialist.
The Filton sale is part of a wider cost-cutting plan first announced last year. Airbus is seeking “strategic investors” for several of its European plants.
Further cost cuts cannot be ruled out. Airbus chief executive Tom Enders recently warned of the severe danger posed to the company by the weakening dollar.
Spirit has grown rapidly to become one of the world’s leading aerostructures companies. It has taken over Boeing plants in America after processes similar to the current Airbus sale.
Its largest UK presence is in Prest-wick, Scotland, where it bought the BAE Systems aerostructures business last year. Defence officials have held exploratory talks with Saudi Arabia about the sale of two of the Royal Navy’s new Type 45 frigates, the first of which was launched last year. The proposal would see the kingdom take two of the six ships currently under construction, with the Ministry of Defence ordering two more to be built later.
The deal would take pressure off Britain’s overstretched defence budget, but industry sources said last night that, although talks would continue, the agreement now appeared unlikely to come to fruition.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
36-month car lease
on contract hire for
£359.99 plus VAT pm
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
The UK's leading alternative to showroom finance.
Finance packages tailored to your needs.
Minimum loan of £15,000
Car Insurance
£12,578 per annum
The Independent Housing Ombudsman
London
Competitive
Barclaycard
Not Specified
The Sheppard Trust
London
£80-95,000
Clay McGuire Executive Selection
Moments from Battersea Park.
For sale with Winkworth.
See your free Experian credit report beforehand
Book now & save over £100pp.
11 cool resorts, lowest prices... Early Booking offers 15 Nov.
20% off selected Azores holidays taken in October with Sunvil Discovery
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.