Airbus insider-trading allegations denied

The former head of Airbus parent company EADS denies accusations of insider-trading against him and 16 of his ex-colleagues.

Noel Forgeard says he was unaware of delivery delays to Airbus’s superjumbo A380 jet when he sold millions of pounds worth of EADS stock months before the costly delays were made public.

He says he is “innocent” but acknowledges that “in hindsight, it would have been better if I hadn’t done it”.

Mr Forgeard was speaking in today’s Le Parisien daily.

The interview came a day after France’s market watchdog said its probe suggested top EADS managers had breached insider trading and market disclosure rules. It said it is initiating sanctions procedures and would inform the Paris prosecutors’ office of its findings.