| Aviation Week, July 30, 2007, page 11
Bid Denied
Airbus has formally rejected the bid by Chinese aerospace group AVIC 1 to purchase the six plants that the European aircraft maker has put up for sale. Li Yuhai, AVIC 1's deputy general manager, tells China Business News that the bid was rejected because it was late. Acceptance never seemed likely, however. Buying the six plants would have fitted perfectly with Chinese industry's plans to adopt Western known-how and emerge as a competitor in building large, commercial aircraft next decade - and that's exactly why Airbus was always expected to reject it. |