Ian Verchere
In a studied exercise in political stone-walling, the new supremo of France's recently-privatised Aerospatiale Matra entity, Jean-Luc Lagardere, yesterday fended off hostile media questioning over how the current deadlock over the transformation of Airbus Industrie into a single corporate entity would be broken.
While accepting the European consortium must become a more integrated and efficient structure, he side-stepped the issue by highlighting progress made in greater European integration.
This was exemplified, he says, by the Aerospatiale-Matra, British Aerospace-Marconi mergers and the recent acquisition of Spain's Casa by DaimlerChrysler Aerospace (Dasa) of Germany.
Dasa chief executive Michael Biscoff's 11th hour decision not to attend the Paris air show has helped fuel speculation that French intransigence continues to frustrate progress in an area widely-accepted as vital to future decision-taking within Airbus.
This apparent discord has not been helped by the perception that the Germans - by taking over Casa's 4% stake in Airbus - have become de facto majority shareholders.
While Lagardere and his new lieutenants, Yves Michot from the old Aerospatiale and Philippe Camus, his trusted right hand man of 15 years, put on a bold face of unity within the context of both Aerospatiale Matra and Airbus, the new management begs the media not to become too emotional over these issues.
Changes
"We must avoid assuming that changes in Airbus's legal status will solve the underlying ownership issues," he says.
"Whatever happens," says Lagardere, "Aerospatiale Matra will be a major world leader in all sectors of aerospace."
As to why France had lost out to the Germans in taking over Casa, Michot replies: "You'd better ask the Spanish government."
Investment experts believe Madrid preferred Dasa because the new French entity still had to prove it could integrate its state and private sector cultures, while British Aerospace lacked political muscle by only being a 20% shareholder in Airbus.
Lagardere says it was "difficult to believe we would be facing the new millennium with a corporate entity embracing France's private and public sector aerospace interests."
Source: Flight Daily News
