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Airbus close to sale of four factories: report

Airbus plans to shed 10,000 jobs and sell a total of six factories as part of its "Power8" restructuring plan, which was prompted by severe problems encountered with its A380 superjumbo jet programme.
by Staff Writers
Berlin (AFP) Dec 16, 2007
Airbus boss Thomas Enders could be days away from selling four of the aircraft maker's factories to US company Spirit Aero Systems, a German newspaper reported on Sunday.

The Frankfurter Allgemeine Zeitung cited insiders as saying a deal to sell the three production sites in Germany -- in Augsburg, Nordenham and Varung -- and one in Filton in Britain, could be inked by Friday.

The head of Airbus parent company EADS, Louis Gallois, said earlier this month that the aerospace giant had "no choice" but to shift some production by Airbus to dollar-based zones to soften the financial impact of a soaring euro.

Airbus sells its planes in dollars but its costs are in the European single currency. With the dollar steadily depreciating against the euro, Airbus earnings has plummeted.

Spirit Aero System is understood to be a prime candidate for taking over the four sites because of its specialised knowledge in carbon fibre technology.

Airbus plans to shed 10,000 jobs and sell a total of six factories as part of its "Power8" restructuring plan, which was prompted by severe problems encountered with its A380 superjumbo jet programme.

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California urges regulation on aircraft emissions
Los Angeles (AFP) Dec 5, 2007
California has urged the US government to introduce new regulations aimed at curbing greenhouse gas emissions from aircraft, officials said Wednesday.







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