Germany gives up EADS job
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Germany gives up its share of the top job at EADS in exchange for the top job at Airbus.
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The co-chief executive of the European Aeronautic Defence and Space Co., Rainer Hertrich, will leave his position in 2005 when his contract expires, a company spokesman said Sunday.
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The plan to slash 10,000 jobs at European aircraft manufacturer Airbus is no longer realistic following big orders for Airbus planes, the German IG Metall labour union said on Friday.
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BERLIN -- DaimlerChrysler AG said Friday it sold a third of its stake in EADS, the parent company of planemaker Airbus, to a private investment group in a deal that will maintain the balance between German and ...Comment
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European aerospace group EADS admitted that its Airbus A380 superjumbo was set for further delays, and a newspaper report said huge cost cuts and a production switch out of the eurozone were being considered.
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European airliner maker Airbus told unions on Wednesday that it would dispose of six factories and switch some work from France to Germany under a plan costing some 10,000 jobs, a union source said.
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A row over leadership at Franco-German company EADS culminates in co-boss Rainer Hertrich not renew his contract in 2005.
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The German government said it was nearing a deal in which German banks would buy a stake in EADS as DaimlerChrysler reduces its holdings in the company.
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Germany might take a direct stake in the aerospace group EADS in 2010, replacing a consortium of investors and German states, but is keeping all options open, a government spokesman said Wednesday.
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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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European aerospace group EADS has admitted that its Airbus superjumbo airliner is set for further delays, after a newspaper report said huge cost cuts and a production switch out of the eurozone were being considered.
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The European aerospace group EADS, parent of crisis-hit Airbus, could announce next week the disposal of four factories in France, matching cutbacks in Germany.
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If the German government were to cancel its defence contracts with European aerospace giant EADS, it would hurt German jobs, according to a stark warning from the German co-chairman of EADS.
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BAE Systems will agree to sell its 20 percent stake in Airbus to the Franco-German aerospace firm EADS for 1.9 billion pounds (2.8 billion euros, 3.6 billion dollars).
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Airbus faced growing paralysis on Tuesday over plans to axe thousands of jobs as French and German politicians quarrelled over the cuts and Berlin dampened hopes of a quick solution at a bilateral summit this ...Comment
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Fitch Ratings on Friday downgraded the European aerospace giant EADS, the parent group of planemaker Airbus, due to "pressure" on its earnings margins and cash flow generation.
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France and Germany appeared headed for another industrial row on Monday over a French plan to merge Airbus parent EADS with French defense group