Airbus chief says new funds necessary, but not urgent
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Airbus chief executive Louis Gallois said Wednesday there was &quot;no urgency for a capital increase&quot; by parent company EADS, but he recognised that the group would need external finance in the future.
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Airbus says it is "business as usual" at its Flintshire plant as staff wait to hear news on the A380 aircraft delays.
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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.
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The news came as Airbus predicted that 17,300 new passenger and freight aircraft, worth $1.9trillion, were needed to meet global demand over the next 20 years.
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Airbus SAS, the world&#39;s biggest planemaker, expects to deliver as many as 320 aircraft this year, or 5 percent more than it forecast earlier, as demand from airlines picks up, said Chief Executive Noel Forgeard.
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The new chief executive of the ailing aircraft maker Airbus is set to present a vast restructuring plan for the group to the board of parent company EADS.
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British defence group BAE Systems has reported an interim profits surge but gave an insight into problems at Airbus, saying the European planemaker might have to ask shareholders for funds.
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The boss of Boeing Co. insisted Thursday that he is not looking for a trans-Atlantic spat in a dispute over subsidies for Airbus, but also said aid for the rival aircraft maker&#39;s new programs should stop.
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The government, goaded by presidential candidates into responding to large job cuts at the airplane maker Airbus, said it was ready to pump cash into the company and shake up a Franco-German power-sharing pact. Prime Minister Dominique de Villepin also called on the parent of Airbus, the European Aeronautic Defense and Space Company, to abandon paying a dividend this year to its shareholders, which include the French government, after announcing plans to cut 10,000 jobs. Some 4,300 of those jobs are in France. Mr. Villepin, above, said the government stood ready to participate if the holding company decided to tap its shareholders for more cash through a capital increase to shore up a company badly hit by delays to the new Airbus A380 superjumbo airliner. âThe state will play its role,â he said. However, EADSâs biggest private shareholder, the German car company DaimlerChrysler, has battled for years to prevent what it regards as state meddling.
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Airbus  said on Monday funding for its wide bodied A350 plane remained open and might include a capital hike but cautioned that one airline might cancel orders for the new aircraft.
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Airbus said Monday it wants suppliers to fund over 15 per cent of the cost of the A350 XWB mid-sized airliner, its US$15.4 billion answer to the Boeing 787 Dreamliner.Comment
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Airbus has denied reports that chief executive Christian Streiff may leave to replace the retiring boss of French carmaker Peugeot-Citroen.
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The co-chief executive of EADS said the parent of the airplane manufacturer Airbus will be in a better position at the end of 2006 despite a turbulent year that saw major delays in the A380 superjumbo airliner program and a loss of ground to U.S. rival Boeing Co.
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The head of Boeing Co.'s  commercial aircraft unit on Sunday backed a call by rival Airbus to work closely on producing more environmentally friendly planes, but said real progress was the responsibility of jet engine makers, rather than plane builders.
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Planemaker Airbus confirmed on Monday that its newly approved A350 XWB would be funded by a combination of internal and external market sources and did not rule out taking government development loans.
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Airbus might tap up to 1 billion euros ($1.25 billion) in controversial government loans to build a new A350 airplane model, which would be a rival to Boeing&#39;s new 7E7 jetliner.
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The new Airbus chief executive has presented an audit of problems at the aircraft manufacturer as well as a vast recovery plan that could mean new delays for the A380 superjumbo airliner and job cuts.