Airbus chief prepares to deliver restructuring plan

0 Comments | AFP, September, 2006

PARIS (AFP) — The new chief executive of European airliner manufacturer Airbus is set to present a vast restructuring plan for the group to the board of parent company EADS, union sources told AFP. The board of European aerospace and defence giant EADS is to meet Friday with problems at Airbus and delays to its A380 superjumbo project set to be high on the agenda.

Airbus chief executive Christian Streiff, in the job since July, is expected to outline a plan to restructure and reorganise the Toulouse-based manufacturer, which is likely to include major job cuts and other efficiency measures. According to the CGT trade union, Streiff intends to deepen a previous cost cutting program called Route 06 which foresaw 1.5 billion euros (1.9 billion dollars) of cost savings per year...