Airbus considers selling Premium Aerotec (again)
Augsburg - According to the rumors, the aviation and defense giant Airbus is again looking for a sale of its subsidiary Premium Aerotec.
Financial investors such as CVC, Onex and KKR have already expressed interest in the company or parts of it, reported Bloomberg news agency today (April 10), citing persons familiar with the matter.
Airbus and abovementioned financial investors did not comment on the issue. A possible sale was the subject of several topics in the past.
Premium Aerotec is producing parts for commercial jets and military aircraft - both for Airbus and the rival Boeing. Founded in 2009, the company has more than 10,000 employees with an annual turnover of 1.1 billion euros (1.36 billion US dollars).
A sale attempt in the past had failed, and Premium Aerotec remained under the umbrella of the Airbus Group. The company has facilities in Augsburg, Bremen, Hamburg, Nordenham, and Varel in Germany as well as in Brasov in Romania.
Premium Aerotec is also the target of the recent job cuts at Airbus. Reasons for the job deletions are the production cuts in the barely demanded world largest passenger jet A380 and the delays in the deliveries of the military transport aircraft A400M.