Le Figaro reported that Lagardere SCA may have been involved in insider trading in shares of Airbus parent European Aeronautic Defence & Space Co. Insider trading is the trading of a corporation's stock based on material non-public information obtained by an insider of the company. The French newspaper says it has seen a report by the Autorité des Marchés Financiers (Authority of financial markets) which alleges insider trading by some of EADS's shareholders and directors.

Apparently, the insider trading is in relation with the delays in the Airbus superjumbo A380. EADS executives, Lagardere and DaimlerChrysler AG may have sold shares of EADS using advanced knowledge of these delays. Lagardere is France's biggest publisher and owner of 7.5 percent of EADS. The French government owns 15 percent of EADS, although Lagardere has actual management control over the state's shares.

"I have no comment to make," EADS Chief Executive Louis Gallois told reporters about the AMF report. "Firstly because I have not read it and secondly because I did not know it would come out today and it is only preliminary."

The Autorité des Marchés Financiers has started to investigate the matter after it saw a massive concomitant sale of EADS shares previous to the announcements of A380 delays. Le Figaro named several executives for having allegedly sold shares between November 2005 and March 2006, among whom are Tom Enders, Fabrice Bregier, Noel Forgeard, Arnaud Lagardere and Manfred Bischoff, Ralph Crosby, Tom Williams and John Leahy.

The illegal insider trading allegedly saved participants a total of 90 million euros (127 million dollars) after a 2006 profit warning prompted a collapse in the EADS share price.

Recently, British Airways boosted the A380 program with a strong order of Airbus A380s. The company said that it may purchase additional planes soon as it replaces its Boeing 747-400 fleet. "These aircraft are the gold-standard in environmental performance. They are way more fuel-efficient. Airbus has done an extraordinary job because despite its size the A380 makes a quarter of the noise of a Boeing 747-400 jumbo," said British Airways Chief executive Willie Walsh, seeking to calm down fears from London residents and environmentalists that the new jumbo fleet will cause more pollution.