Aerospace giant Airbus is launching the second tranche of its share buyback programme in a move it says is aimed at supporting future employee share ownership and equity-based compensation plans.
The programme - first announced in September - was approved by shareholders in April. It is being executed in multiple tranches over a period ending January 16. The scheme is for up to a maximum of 4,140,000 shares.
The first phase of the programme was completed at the end of last month, resulting in 2,070,000 shares being repurchased.
Airbus, which has Ƶ sites in Broughton in North Wales and Filton near Bristol, has appointed an investment firm to manage the execution of the second stage of the buyback programme.
The unnamed firm will make trading decisions concerning the timing of purchases independently of Airbus, the company added in a statement on Thursday (November 20).
The announcement comes just two days after Airbus signed a Memorandum of Understanding (MoU) with flydubai for 150 A321neo aircraft. The airline is a new customer for the aerospace giant.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of flydubai, signed the MoU with Christian Scherer, chief executive of commercial aircraft at Airbus, on the second day of the Dubai Air Show.
“We welcome flydubai, one of the Middle East’s most ambitious and fast-growing carriers, as a new Airbus customer,” said Mr Scherer.
“The decision to invest in and introduce the A321neo into its fleet is another endorsement of the added value Airbus brings in terms of range, efficiency and passenger comfort. We look forward to supporting flydubai as it enables new growth and possibilities with our aircraft.”
More than 7,200 A321neo aircraft have been ordered by nearly 100 customers across the globe.
Sheikh Ahmed added: “This strategic addition diversifies our narrow-body fleet and strengthens our long-term expansion plans.
"This will enable flydubai to play a key role in the success of Dubai World Central’s expansion plans, an airport we aim to become the largest airport in the world.”
