AI(R) Partners Agree to Dissolution

Date:         06 Jun 98 15:39:05 
From:         Evan McElravy <evanm@penn.com>
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So much for the much-touted consolidation of European aerospace companies:

Partners Agreed On Company Dissolution
Toulouse, April 27, 1998 AI(R)

PARTNERS AGREED ON COMPANY DISSOLUTION At a meeting of the AI(R) Board
of Directors which was held last Friday, April 24th, all necessary
agreements regarding the dissolution of AI(R) and the ongoing working
relationships between ATR and BAe Regional Aircraft have been reached
between Aerospatiale, Alenia Aerospazio and British Aerospace. The legal
agreements will be drawn up for signature within the next two weeks and
the product focus implemented progressively and completed by end of June
1998. ATR and BAe Regional Aircraft will continue to operate from
Toulouse and Washington by sharing accommodation. This organizational
change concentrates focus on ATR and BAe Regional Aircraft respective
product lines, with customer needs a priority, and represents a positive
response to the competitive challenges of our marketplace.

(http://www.airegional.com/)

Evan McElravy
evanm@penn.com