24 April 2015

Airbus will not continue within A350´s tier1 Alestis when it returns to profitability.

Airbus considers abandoning the shareholding of Alestis when this rescued Spanish tier1 returns to profitability.

Source: Jorge Guardia

"We entered in Alestis to give a more businesslike management. The idea was always clean it up, give it future and get out", said the Head of engineering for military aircraft at Airbus Defense & Space, Miguel Angel Morell.

The Airbus-Group Spanish manager avoided concrete deadlines alluding to that Alestis depends on Commercial division of Airbus.

"But I think that at the moment it is fully profitable, Airbus will have no intention to continue in Alestis," said Morell.

Airbus was bound to recue Alestis when it was in bankruptcy as a consequence of several  problems in the development of A350 belly fairing components. Later, Airbus even entered its shareholders.

The share capital of Alestis is currently set to 56.1 million euros with 3 shareholders; Airbus with 61,91% of the representation, the Spanish public society of industrial participations (SEPI)  with 24%, and Andalusian bank Unicaja with 14%.

Alestis should become "the company of reference for Airbus group", said Miguel Angel Morell.

Based on the article “Airbus se plantea salir del capital de Alestis cuando vuelva a ser rentable” published in Europa Sur.

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