EADS: Plans JV With Russia's Irkut On A320 Freighters -3

The idea of a joint venture had been initiated in May 2006, when the parties signed a letter of intent and launched a feasibility study, a spokeswoman for Airbus said.
It was before the Russian state-owned bank OAO Vneshtorgbank, or VTB, bought a 5.02% stake in EADS, fueling speculation about Russia's intentions toward the European defense and aeronautics group, which is currently facing management and financial turmoil at Airbus.
EADS late Monday accepted the resignation of Christian Streiff as Airbus chief executive, just three months after he stepped into the job. He has now been replaced by EADS co-Chief Executive Louis Gallois.
In December 2005, EADS purchased a 10% stake in Irkut, an official supplier of Airbus and an EADS representative sits on Irkut's board of directors since March, the company said.
-By Anne-Sylvaine Chassany, Dow Jones Newswires; +33 1 40 17 17 40; anne-sylvaine.chassany@dowjones.com.