Air Transport World

Airbus details Power8.(restructuring plan)(Brief article)

Warning that its current structure is "unsustainable and unacceptable," Airbus at the end of February unveiled its Power8 restructuring plan, which includes 10,000 job cuts, closing or selling three plants, spinning off three others, outsourcing half of A350 XWB production and streamlining its business to achieve a 16% increase in manufacturing productivity.

"Our long-term future is at stake if we don't act now," EADS co-CEO and Airbus CEO Louis Gallois said. The plan aims to cut annual costs by [euro]2.1 billion ($2.8 billion) from 2010 and produce [euro]5 billion in cumulative savings by 2010. Gallois said A350 development will cost [euro]10 billion ($13.2 billion) and partners will assume at least [euro]1. …

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