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BAE denies plans to sell its Airbus stake - report


HONG KONG (XFNews) - The chief executive and chairman of BAE Systems have both denied speculation that it is looking to sell its 20 pct stake in European aircraft maker Airbus, saying its share is "not for sale", the Financial Times reported.

In its online edition the newspaper cited Mike Turner, BAE chief executive, and Dick Olver, chairman, who said the company could not use the cash from a sale for any better purpose.

"[We] look carefully at every asset that we hold to be sure it's worth more in our hands than it is in somebody else's, or in other words, that we couldn't deploy the value of that asset in a better way somewhere else," Mr Olver told the Financial Times.

"Right now, I'm sure Mike and I would both say, 'We look at everything, including Airbus', and right now it's not for sale, because there's not a better use of that asset."

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