Business | Investment
Channel Sponsor
DIC buys stake in EADS
Investment firm Dubai International Capital (DIC) has bought a 3.12 per cent stake in Airbus' parent company.
- Agencies
- Published: 13:01 July 5, 2007
- The falling dollar and lengthy delays to the new A380 super jumbo led to a fall in profits of 94 per cent for EADS
- Image Credit:
Dubai: Investment firm Dubai International Capital (DIC) has bought a 3.12 per cent stake in Airbus' parent company.
The company said that it would not seek a seat on the board of EADS, but that it had confidence that Airbus would bounce back after a difficult year.
The falling dollar and lengthy delays to the new A380 super jumbo led to a fall in profits of 86 per cent
The statement said: "The company's challenges are well-publicised. However, we are confident that EADS's superior product offering, comprehensive restructuring programme and committed management represent a strong fit with the fund's investment strategy.
"We are supportive of EADS management's announced steps to regain investor confidence by delivering the envisaged recovery plan at its Airbus subsidiary," added the statement.
Share this article
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Media baron Murdoch cries foul
Murdoch's suggestion of content theft infuriates digital evangelists
-
Jobs vital to global recovery
Higher unemployment reduces purchasing power and revenues
-
Abulhoul Aviation to begin operations
New charter company will use Cessna 206 Station Air to transport tourists
