Air Transport World

A new aerospace giant.

In a move that should give new impetus to the commercial restructuring of Airbus Industrie, Aerospatiale Matra and DaimlerChrysler Aerospace (Dasa) signed a merger agreement in Strasbourg to form what will be the world's third-largest aerospace company after Boeing and Lockheed Martin.

To be called the European Aeronautical Defense and Space (EADS) company, it will have combined annual sales of $22 billion and 89,000 employees. EADS becomes the dominant partner in Airbus with control of 80% of the consortium, and will apply increased momentum to the lagging efforts to turn the European consortium into a commercially run limited company. …

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