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Friday, 16 November, 2001, 14:36 GMT
Airbus denies internal tensions
Airbus
Airbus accounts for 80% of EADS revenue
Reports from Paris of internal tensions at EADS, the European Aeronautics Defence and Space company which runs Airbus, have been denied by the group's largest shareholder.

The reports suggest that the two main backers of Airbus - the Governments of France and Germany - are deeply divided about the way the company is run.

But Rainer Ohler, head of communications at EADS, told the BBC's World Business Report that the reports were not based on facts."

"It is mere speculation in the French media," he said.

Since the summer, EADS has been in theory a single company formed out of operations in France, Germany, Spain and the UK - with joint chief executives, from France and Germany.

Shareholders happy

According to the Financial Times Paris correspondent Paul Betts - senior executives are now saying that Airbus is losing out to its great American rival Boeing.

He alleges that Daimler-Chrysler, the group's largest shareholder with 30%, is pressing for the appointment of more Germans in key position.

But a spokesman for Daimler-Chrysler told the BBC's World Business Report that the corporate governance at EADS is well established.

"The two chief executive officers - Philipp Camus and Rainer Hertrich have our full confidence," he said.

"Shareholders are happy and we do not see any reason for changes," he added

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Paul Betts, FT Paris
"Tensions are there and they are extremely serious."
See also:

20 Sep 01 | Business
Airbus freezes expansion plans
25 Oct 00 | Business
Airbus lifts EADS profits
22 Jun 01 | Business
Airbus dominates Paris Air Show
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