DIC buys stake in EADS

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.