Airtanker, one of the two consortia bidding for the UK's £13 billion ($21.3 billion) Future Strategic Tanker Aircraft competition, has revised its share-holding ahead of an expected selection of a winning bid later this year.
The consortium originally comprised Cobham, EADS, KBR, Rolls-Royce and Thales, each with a 20% holding. KBR withdrew from the team late last year, citing the lack of a strong business case for an equity investment.
Airtanker's structure has been revised again, with Thales shrinking its holding to 10% with Cobham and R-R each raising their stakes to 25%. EADS, which took over KBR's holding when it left Airtanker, has the largest holding at 40%.
Thales says: "All shareholders, prior to the final bid, reassessed their individual long-term roles in Airtanker. This development of the shareholding arrangements strengthens the commitment of the shareholders to the Airtanker solution as it more accurately reflects their long-term commercial interests in the consortium. All shareholders are fully committed to the Airtanker team and the FSTA programme."
Airtanker's bid is based on new Airbus A330s, but after a long period of denials, the consortium recently acknowledged that it has offered the option of used A330s as well as new aircraft.
The consortium is also holding talks with VT Aerospace, which could take the management services role previously held by KBR.
Airtanker is competing against Tanker & Transport Service Company, a consortium of BAE Systems, Boeing, Serco and Spectrum Capital, which is offering ex-British Airways Boeing 767s.
Source: Flight International
