Airbus Mulls Selling Stake In Brazil-Based Helibras: Report

Airbus SE EADSY is reportedly eyeing options to sell a stake in helicopter maker Helibras.

Airbus is planning to sell a stake to a potential strategic partner after it gained complete ownership of the Brazil-based firm earlier in FY23, Reuters reported citing a statement from the head of the subsidiary.

The European planemaker, which has controlled the formerly state-owned Helibras since the mid-2000s, acquired the remaining 15.5% stake from the state of Minas Gerais in January for 95 million reais ($19.4 million), Reuters added.

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Apart from selling helicopters, Helibras has also been investing in exports, which currently account for 20% of the firm's output, the report said, referring to a statement from Helibras President Alberto Duek. Helibras has customers in countries such as Chile, Ecuador, Argentina, and Bolivia.

Price Action: EADSY shares traded lower by 1.03% to $35.72 on the last check Tuesday.