Airbus plans spinoff of high-altitude drone program Zephyr, FT reports

Airbus (EADSY) is plans to spin out Zephyr, its high-altitude drone program, in a move to create a standalone telecoms and earth observation business that will commence commercial operations by the end of next year, The Financial Times’ Sylvia Pfeifer reports. According to the report, Airbus has hired Morgan Stanley (MS) to find external partners to help accelerate commercialization of the Zephyr aircraft. The business will operate under the brand name "Aalto" and is currently in talks with commercial customers as well as potential strategic partners, Pfeifer writes. Reference Link