Airbus worth less than zero

May 23 (Bloomberg) -- Airbus SAS, the world's largest commercial aircraft maker, is valued at ``less than zero'' after this year's 32 percent drop in the shares of parent European Aeronautic, Defence & Space Co., according to Lehman Brothers Holdings Inc. analyst Joe Campbell.

``The market is viewing Airbus as a liability, rather than an asset,'' said Campbell, 62, who is based in New York and has ranked among the top five aerospace analysts for six consecutive years in an Institutional Investor magazine poll.

Normally, I tend to root for Boeing, being an American company and Airbus' biggest competitor, but I can't take any pleasure in this. I prefer for Airbus to be a healthy company, as it makes our aerospace industry players in the U.S. better.