Thomas Enders, chief executive of Airbus, a division of European Aeronautic Defence & Space Co. NV (EAD.FR), said Wednesday he sees the foreign exchange rate for the euro at $1.20 as fair value.

At 1150 GMT, the euro was trading at $1.22 in Frankfurt, off an intraday low of $1.21. The euro has come under pressure in recent days as fears about an unraveling of the euro zone have plagued markets.

Daimler AG (DAI) and Sogeade Lagardere together with the French state each own a 22.46% stake in EADS. Spanish state holding company SEPI owns a 5.48% stake. The company's free float amounts to 49.6%.

-By Frankfurt Bureau, Dow Jones Newswires; +49 69 29725 500; djnews.frankfurt@dowjones.com
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