£8bn DEAL IS UP IN THE AIR

Plane-maker Airbus may have scuppered a controversial £8billion takeover of engineering giant GKN by corporation raider Melrose.

Airbus is GKN’s single biggest customer, supplying wing parts and other technology.

But Airbus chief operating officer Tom Williams said it would be “practically impossible” to give the firm new work if its “ownership model” changed.

He said: “The nature of our industry is one that requires a commitment to longterm investment.”

Although Williams did not name Melrose, the firm specialises in buying struggling businesses and selling them within five years.

GKN’s share price fell 1.7% on the back of the comments. SUCCESS Popular films at Cineworld boosted profits Cineworld celebrated a blockbuster year thanks to films such as Beauty and the Beast, with profits up more than a fifth to £120million. The movie, starring Emma Watson, was the UK’s biggest grossing film of 2017. It was also a big year for Cineworld after sealing a £2.7billion deal to buy US rival Regal to become the world’s second biggest operator.