Editing BAE Systems (section)

====Airbus shareholding====
{{main|Airbus}}

BAE Systems inherited British Aerospace's share of Airbus Industrie, which consisted of two factories at [[Broughton, Flintshire|Broughton]] and [[Filton]]. These facilities manufactured wings for the Airbus family of aircraft. In 2001 Airbus was incorporated as Airbus SAS, a [[Société par actions simplifiée|joint stock company]]. In return for a 20% share in the new company BAE Systems transferred ownership of its Airbus plants (known as [[Airbus UK]]) to the new company.<ref>{{cite web |url=https://www.flightglobal.com/news/articles/bae-reveals-39airbus-uk39-proposal-64872/ |title=BAE reveals 'Airbus UK' proposal |date=25 April 2000 |publisher=Flight Global|access-date=25 February 2018 |archive-url=https://web.archive.org/web/20180226032233/https://www.flightglobal.com/news/articles/bae-reveals-39airbus-uk39-proposal-64872/ |archive-date=26 February 2018 |url-status=live}}</ref>

Despite repeated suggestions as early as 2000 that BAE Systems wished to sell its 20% share of Airbus, the possibility was denied by the company.<ref name="scotsman2000"/><ref>{{Cite news |first=Peter |last=Spiegel |title=BAE denies Airbus sale plans |work=Financial Times |date=7 September 2005}}</ref> However, on 6 April 2006 it was reported that it was indeed to sell its stake, then "conservatively valued" at £2.4&nbsp;billion.<ref name="BBC Airbus">{{cite news |url=http://news.bbc.co.uk/1/hi/business/4886154.stm |title=BAE confirms possible Airbus sale |work=BBC News |date=7 April 2006 |access-date=12 August 2006 |archive-url=https://web.archive.org/web/20061120113320/http://news.bbc.co.uk/1/hi/business/4886154.stm |archive-date=20 November 2006 |url-status=live}}</ref> Due to the slow pace of informal negotiations, BAE Systems exercised its [[put option]] which saw investment bank [[N M Rothschild & Sons|Rothschild]] appointed to give an independent valuation. Six days after this process began, Airbus announced delays to the [[Airbus A380|A380]] with significant effects on the value of Airbus shares. On 2 June 2006 Rothschild valued the company's share at £1.87&nbsp;billion, well below its own analysts' and even EADS's expectations.<ref>{{Cite news |first=David |last=Gow |url= https://www.theguardian.com/business/2006/jul/03/theairlineindustry.baesystemsbusiness |title= BAE under pressure to hold Airbus stake |work= The Guardian |location= London |publisher= Guardian Newspapers |date= 3 July 2006 |access-date= 3 July 2006 |archive-url= https://web.archive.org/web/20131002154400/http://www.theguardian.com/business/2006/jul/03/theairlineindustry.baesystemsbusiness |archive-date= 2 October 2013 |url-status= live}}</ref> The BAE Systems board recommended that the company proceed with the sale. Shareholders voted in favour and the sale was completed on 13 October.<ref>{{Cite news |title= BAE Systems says completed sale of Airbus stake to EADS |work=Forbes |date= 13 October 2006 |url= https://www.forbes.com/feeds/afx/2006/10/13/afx3089453.html |access-date=13 October 2006 |url-status=dead|archive-url=https://web.archive.org/web/20110604072701/http://www.forbes.com/feeds/afx/2006/10/13/afx3089453.html|archive-date=4 June 2011}}</ref> This saw the end of UK-owned involvement in civil airliner production. Airbus Operations Ltd (the former Airbus UK) continued to be the Airbus "Centre of Excellence" for wing production, employing over 9,500 in 2007.<ref>{{cite web |url= http://www.airbus.com/en/worldwide/airbus_in_uk.html |title=Airbus in UK |work=Airbus |access-date=5 October 2007 |archive-url= https://web.archive.org/web/20071012161735/http://airbus.com/en/worldwide/airbus_in_uk.html |archive-date= 12 October 2007}}</ref>