Airbus Industrie was officially started as a "Groupement d'Interet Économique" (Economic Interest Group or GIE) on 18 December 1970. The name "Airbus" was taken from a word used by airlines in the 1960s. It meant an aircraft with a certain size and range. Aérospatiale and Deutsche Airbus each owned 36.5% of the company, Hawker Siddeley owned 20% and Fokker-VFW owned 7%. Each company made its own parts of the plane, and they were completely ready when they were delivered. In October 1971, the Spanish company CASA took 4.2% of Airbus Industrie. Aérospatiale and Deutsche Airbus lowered their share to 47.9%. In January 1979, British Aerospace, which had taken over Hawker Siddeley in 1977, took 20% of Airbus Industrie. Aérospatiale and Deutsche Airbus lowered their share even more, to 37.9%. CASA kept its 4.2%.