BERLIN — The European Aeronautic Defence and Space Company (EADS) is considering launching its own bank to better manage its accounts, the new chief of subsidiary Airbus said in an interview.
“Our parent company EADS is currently studying the possible advantages of founding our own bank,” Fabrice Bregier told the July 15 edition of German newspaper Die Welt.
“EADS, with some 10 billion euros ($12 billion), has strong accounts and does everything to keep its liquid assets protected. Holding a banking license would perhaps give us more options.”
A banking license would enable the multinational aerospace and defense group to deposit cash directly into the European Central Bank, without using traditional banks that are exposed to the eurozone debt crisis.
Bregier, who became Airbus chief executive after predecessor Tom Enders took over as head of the EADS group in May, also said Airbus does not have an emergency plan in case of a eurozone implosion because it would be impossible to predict the effects.
“We’ve obviously spoken with banks and a series of advisors. But even they don’t know what would happen, in concrete terms,” he said.
“The only thing everyone agrees on is to say that it would be painful all around.”