Athens – In the largest corporate transaction in history, the Hellenic Aerospace Industry (HAI) has secured a 60% interest in the new company European Aerospace Defence and Space E.P.E. (EADS) after agreeing to a deal with the French government. An undisclosed amount has been paid by HAI to the French government as well as guarantees made that factories will not be moved away from France and that any future designs in the fields of military combat aircraft (Including the existing HAI UF-1 Strix and HAI F-1 Ares) will be shared with the French military. As part of the takeover European Aerospace Defence and Space E.P.E.’s headquarters and main office will be established in Athens. A new corporate entity European Aerospace Defence and Space E.P.E. will become full owner of Airbus SE and subdivisions and subsidiaries of the latter will be moved to the former. Hellenic Aerospace Industry itself will continue as a subsidiary under EADS. As HAI itself is owned entirely by the House of Argead, the Empress and her family have effectively become the majority owner of EADS.
Airbus has a long history in traditional aviation as well as space exploration, military applications and other aeronautical sectors. Meanwhile HAI has in recent decades excelled at innovating in the areas of hypersonic flight, autonomous flight, space tourism and sixth generation fighter aircraft. Combining the knowledge of both of these titans of industry is guaranteed to bring even greater achievements and guarantee the dominance of Greco-French aviation for decades to come. With the addition of the Imperial Government now being an official backer of EADS, there is also a much stronger guarantee of corporate stability.
As Airbus SE itself has been a corporate giant, many of its parts will be moved away and placed directly under EADS. Under this new distribution only the commercial aircraft division and its subdivisions and subsidiaries will remain part of Airbus SE headquartered in Paris. The former military division as well as defence and space will be placed under Airbus Military and Space E.P.E. headquartered in Byzantion, Airbus Helicopters will retain its name but become its own company named Airbus Helicopters E.P.E. and headquartered in Valetta, Principality of Malta. Any joint ventures the company held will be distributed among these three divisions. Hellenic Aerospace Industry E.P.E. will have Baykar I.K.E. split off and placed under the EADS umbrella, as well as itself becoming a division of EADS.
The takeover came completely unexpected and markets in Athens have already responded with direct competitors to the new corporate giant such as Intracom Holdings, ASELSAN, and ROCKETSAN that are publicly traded showing as much as a 15% drop in their share value after trading stably for nearly a decade. It is clear on which horse the markets are betting. EADS can already record its first customer as the Ministry of Defence has extended its congratulations to Viktoria Pachis (the former COO of HAI and the new CEO of EADS) and stating that it looks forward to continue doing business as well as it has with HAI for decades.
As much as the markets and government are responding positively, opposition parties have expressed their concern about how close this has placed the Athenian government to the private business interests of the Empress and what promises may have been made about foreign policy concerning France to the French government for them to allow this deal. Concerns have also been raised about the financing and whether tax payer revenue may have been used to directly finance the agreement or if public property has been offered as collateral to any lenders.