Search is on for a new Airbus boss

EUROPEAN aircraft giant Airbus was today starting a search for a new chief executive following confirmation that current boss Noel Forgeard is to become one of the coheads of major shareholder Eads.

The shake-up comes as the manufacturer, 20% owned by Britain's BAE Systems, notched up a major win over US rival Boeing with an 80-plane order from Malaysian budget carrier AirAsia.

Forgeard will replace Philippe Camus as the French co-chief executive of Eads, the Franco-German aerospace and defence group that controls 80% of Airbus and has a dual management structure.

His move to Eads ends a power struggle with Camus that has rocked the company. He will serve alongside new German co-chief Thomas Enders, head of Eads' defence operations.

Forgeard's promotion was backed by the French government, which holds 15% of Eads, and was sealed today when it won the support of Arnaud Lagardere, whose family media group also holds 15% of the company. Camus will take up a role at Lagardere Group.

Forgeard joined Airbus in 1998 as managing director and became president and chief executive in 2001. He is credited with improving the group's fortunes by ditching its consortium structure, promoting cost savings, and overseeing the development of the A380 superjumbo. Airbus last year outsold Boeing for the first time.

Today's deal with AirAsia comprised orders for 40 A320s worth $2.5bn (£1.3bn) with options for 40 more planes. To date, AirAsia had used only Boeing aircraft.