EADS board backs Airbus turnaround plan
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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.
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The French co-head of aerospace group   EADS EAD.PA brushed off negative comments from estranged   shareholder BAE Systems BA.L on Thursday, saying the Airbus   parent was weeks away from resolving some of its key problems.
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Disagreement over the funding of a  $10-billion new plane project at Airbus has forced parent firm  EADS  to cancel a Friday board meeting which was due to  decide on whether to go ahead with the development, an industry  source said on Friday.
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The board of European aerospace group EADS is to meet this Friday to discuss the launch of the Airbus A350 passenger jet amid wrangling over the financing of the project.
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EADS is seen approving production of the Airbus A350 mid-sized jet to expand away from its troubled super jumbo.
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Shares in EADS, the parent of jet-maker Airbus, rose Wednesday on reports that a Russian bank had bought more than 4 percent of its stock. But EADS retracted an earlier comment in which it said Moscow-based Vneshtorgbank had confirmed the acquisition.
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European aerospace group EADS  will unveil restructuring measures aimed at saving 2 billion euros ($2.53 billion) a year this week after new delays in deliveries of its A380 superjumbo, financial daily Les Echos reported, without quoting sources.
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MELBOURNE/PARIS  - The world's airlines were forced to review growth plans and investors hammered the shares of Airbus parent EADS  on Wednesday after the European planemaker announced more delays to its A380 superjumbo.
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British defense firm BAE Systems  won shareholders' backing on Wednesday to sell its stake in planemaker Airbus to EADS , which a day earlier said a fresh delay in the A380 superjumbo would hit earnings.
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The newly designated EADS chief executive said in an interview published Thursday he backed the introduction of &quot;golden shares&quot; to allow Berlin and Paris to veto strategic decisions at the European aerospace giant.
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The board of European aerospace group EADS  is 90 percent certain to agree on Friday to finance the launch of Airbus's planned A350 mid-size, long-haul jet, a source close to the board told Reuters on Friday.
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Airbus parent EADS  on Monday  postponed a major restructuring announcement planned for  Tuesday, saying its European political backers could not agree  on how to share out construction of its future A350 aircraft.
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Airbus parent EADS  has pledged to consult workers before selling plants or cutting jobs as part of a plan to rescue the planemaker, the works council at EADS said on Friday.
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The board of European defence firm EADS approves a much-awaited restructuring plan for Airbus.
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EADS, the parent company of European aircraft maker Airbus, on Tuesday denied a French press report that its co-president Tom Enders was set to quit.
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Airbus, the European aircraft maker, is expected to receive approval within weeks from its shareholders, EADS and BAE Systems, to start marketing the planned A350 mid
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The board of European defence firm EADS approves a long-awaited restructuring plan for Airbus.