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EADS offers 5% stake in A-350 to Russia's aircraft corp.

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PARIS, March 22 (RIA Novosti) - The aerospace and defense group EADS and Russia's aerospace holding signed four deals, promising the Russians a 5% stake in the A-350 airliner project, the European company said Thursday.

The European Aeronautic Defense and Space Company and Russia's United Aircraft Building Corporation, an umbrella company for the country's aerospace industry, agreed to "further specify joint programs under discussion," the news release said.

One agreement covers a risk-sharing partnership in the subsidiary Airbus's project to build the A350 family of long-range airliners designed to compete with the Boeing 777 and 787, where UABC is being offered 5%.

The European aircraft producer announced plans earlier this month to cut 10,000 jobs and sell or close six of its 16 plants after the cancellation of an order for 10 A380 freighters, prompting Russia's VTB bank to warn it could sell its 5% stake in EADS if the market situation worsened.

Russia's state-run foreign-trade bank Vneshtorgbank bought the stake in EADS for 1 billion euros last year, raising concerns that Russia is after more influence on the European aerospace market.

Talks on which aircraft components will be designed and built in Russia are continuing.

The second agreement envisions the establishment of a joint venture in Dresden, Germany, which would set up centers to convert A320 passenger jets to freight planes at Lukhovitsy near Moscow, Russia, and in Dresden, the EADS said.

The third agreement foresees a joint study of the transport aircraft market and possible cooperation between EADS and the Russian industry in this field. And the fourth document defines a shareholder change in the Engineering Centre Airbus Russia, with UABC purchasing the Kaskol Group stake.

The Airbus Moscow office said earlier Thursday that Russia's largest air carrier Aeroflot had agreed with Airbus to buy 22 A350 jets. The first A-350 Airbuses are planned to be supplied in 2015. Aeroflot reportedly also plans to lease 10 new A330-200 planes.

The move confirms the airline's plans to abandon the rival Boeing 787 passenger jet.

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