Airbus Buying 51% Stake in PFW Aerospace
Airbus (EPA:EAD) is closing in on a deal that will land them 51% of PFW Aerospace, a German parts supplier. The move will benefit both parties, creating a continued flow of parts for the A350 and Boeing (NYSE:BA) 787 programs, which as of late have faced major delays.
“According to Airbus, the decision was made to ensure a continued supply of parts for Airbus programs and avoid an imminent liquidity crisis. The company is a specialized producer of aircraft parts, such as pipes and tanks.
Airbus’ stock is down 1.54% to $27.43 on the news. Shares are up 16.97% year to date. The stock has traded in a 52-week range between $22.20 and $36.17.