Eads ex-chief held in insider trading probe

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Former Eads co-chairman Noël Forgeard is being questioned by police as part of a widening investigation into the allegations, which he and other executives strenuously deny.

Forgeard made £1.9 million from the sale of Eads shares in 2006, just weeks before the company unveiled serious production delays with the A380 superjumbo that is regarded as the future of the business.

As chief executive of Airbus in 2003, Forgeard withdrew backing for Concorde, making it impossible for BA and Air France to continue flying the supersonic jet.

The inquiry by the Paris fraud squad into the insider trading claims has been running since at least October 2007. Forgeard claims he is a scapegoat, insisting he was unaware of the extent of the problems with the A380 when he cashed in the shares.