Argonaut has been an investor in EADS since 2009 when the shares traded at €13, compared to €30 before the proposed merger with BAE was announced yesterday. Our investment rationale has been based around the attractiveness of the Airbus franchise which today accounts for over half of all new civil aeroplanes sold each year. Civil aerospace is an attractive industry with demand driven by emerging market passenger growth and the replacement of ageing aircraft with more fuel efficient planes. Over the…
‘Why EADS needs BAE like a hole in the head’
13 Sep 2012
Posted by Barry Norris