Airbus and GKN have signed a contract under which GKN will purchase the wing component and assemblies manufacturing unit based at Airbus’ site at Filton, near Bristol, UK. This includes all operational business, assets and activities being transferred to GKN. As a result of the transaction, GKN has committed itself to make further investment in the unit in order that Filton will continue to play its important role in Airbus’ current and future programmes, Airbus said. The unit is … [Read more...] about Europe/ CIS: Airbus sells its UK wing component plant
sells
Middle East: Saudi Airlines sells 30% of freight division
An agreement has been reached to sell 30 per cent of Saudi Arabian Airlines’ freight division to Tarabut Air Freight Services Company. The agreement, signed in September, will see Tarabut work as a strategic partner of Saudi Arabian Airlines in the freight sector, the Saudi Press Agency reported. Freight sector revenues rose above SR1.7 billion (US$453 million) and exceeded SR1 billion in the first half of 2008, which Khalid Bin Abdullah Almolhem, Saudi Airlines Director General, … [Read more...] about Middle East: Saudi Airlines sells 30% of freight division
