PARIS (AFX) - Noel Forgeard, the co-chief executive of Airbus parent company EADS, said he first learned about production delays for the A380 superjumbo project in April, even though the delays were only announced publicly this week.
The news came as a shock to investors and analysts who follow the company, especially because company officials had said the A380 programme was 'on track' as recently as May...
However, Forgeard said he was unaware of the A380 problems when he exercised a large number of stock options in mid-March, generating a profit of at least 2.5 mln eur. His three children also sold EADS shares at the time, as did a number of other EADS executives.
Thursday, June 29, 2006
A) commerce d'initié
Q) How do you say "insider trading" in french?
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