Turnaround plan for Airbus OKd
From the Associated Press
PARIS —
The board of Airbus parent EADS approved a restructuring plan for the troubled European aircraft maker Monday, breaking a weeklong deadlock over job cuts and future jet programs between France and Germany.
The European Aeronautic Defense & Space Co. said details would be released Wednesday after they were passed through company ranks.
The plan will allow the civil airliner division of Airbus to “face the challenge of the U.S. dollar weakness” as costs continue to rise from delays to its flagship A380 plane, the Franco-German company said.
The weak dollar -- the currency in which the planes are priced -- has pummeled Airbus, which is expected to shift even more supplier costs and contract work to dollar-linked economies.
