Shareholders approve new airbus jet

The owners of Airbus SAS approved the launch of a new A350 passenger jet today to rival Boeing’s 7E7, a spokesman for Airbus parent EADS said.

The decision came at an Amsterdam board meeting of European Aeronautic Defence & Space Co., said a French spokesman for the company, which owns 80% of Airbus. Britain’s BAE Systems PLC, which owns the remaining 20%, also gave its approval during the meeting, Patrice Kreis said.