You are here

Airbus plans to keep part of defence electronics unit: paper

AIRBUS170216.jpg
Airbus Group no longer plans to sell off its entire defence electronics unit and will instead dispose of just its radar and target recognition-equipment business, the Frankfurter Alllgemeine Zeitung reported on Wednesday.

[FRANKFURT] Airbus Group no longer plans to sell off its entire defence electronics unit and will instead dispose of just its radar and target recognition-equipment business, the Frankfurter Alllgemeine Zeitung reported on Wednesday.

Citing a letter from management to the employees of Airbus Defence & Space (ADS), the paper said the Border Security business would be retained and operated by Airbus, while the remaining parts of the unit would be sold to an external bidder as planned.

Management is citing various delays with its long-standing project partner in Saudi Arabia as a reason for backing out of the sale of the Border Security business, the paper added.

Airbus also hopes to take advantage of new opportunities for border security presented by the refugee crisis, the paper said. However this had not explicitly been mentioned in the letter to employees, the paper added, citing a manager.

sentifi.com

Market voices on:

Airbus was not immediately available for comment.

REUTERS

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom