1. European Aeronautic, Defence & Space Co., owner of planemaker Airbus, has a reorganization plan aimed at making up for the decline of the dollar against the euro. (Airbus has about half its expenses in euros, which has gained 6.2 percent against the dollar over the last year, while plane sales are priced in the U.S. currency).
2. The A380 cost EADS 2.5 billion euros in 2006 because of delays, higher expenses, settlement payments with airlines and charges for a suspended freighter version.
3. Airbus has a Power8 plan that will include 10,000 job cuts and the sale of plants in France, the Germany and the U.K. The plan aims to slash 2.1 billion euros from annual costs by 2010 and achieve 5 billion euros in cash spending until 2010.
Negligence or unforeseen circumstances?
[Click here for full story at: BUSINESSWEEK.COM]
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