Airbus in storm over cuts, EADS shares dive
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Airbus and parent aerospace group EADS were in the eye of a breaking storm of union defiance and stock market doubts over cutbacks on Monday, a day before a strike in French factories.
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Germany may cancel orders placed with European aerospace firm EADS if the company shifts production at its Airbus unit out of the country, German Economy Minister Michael Glos was quoted as saying on Sunday.Comment
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Airbus will cut 10,000 jobs over four years, parent company EADS said Wednesday as it unveiled a restructuring plan aimed at helping the planemaker recover after delays to its A380 superjumbo and other setbacks.
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Planemaker Airbus is expected to announce   fresh delays to its embattled A380 superjumbo in coming days, a   French media report said, adding to woes for parent firm EADS   EAD.PA whose shares were also hit by a brokerage downgrade.
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A French shareholder association said on  Monday it had filed a class-action lawsuit over the recent  share collapse of EADS . The suit was filed in the  Netherlands, where the Airbus parent group is registered.
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Top managers at Airbus parent company EADS knew of delays in aircraft production when they sold their stock options in March, shortly before Airbus shares crashed on a shock announcement, a French daily alleged Tuesday.
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Airbus shelves a key decision on a major overhaul of the business, amid strife between its European partners.
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PARIS Aircraft maker Airbus is attacking a US decision to file a World Trade Organization complaint over subsidies Airbus. Airbus today says the US complaint shows that Washington is unwilling to negotiate
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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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Aerospace group EADS has told its European works council that no definitive decisions have been taken yet on the troubled Airbus A380 superjumbo and mid-size A350 projects.
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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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MUNICH, Germany  - Losses at planemaker Airbus slashed operating profit at Franco-German parent EADS  by 86 percent to 399 million euros ($525 million) in 2006, but the fall was cushioned by profits in defense, the group said.
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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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Airbus parent EADS abandoned two key  executives on Sunday and brought in a steady pair of hands in  the shape of French railways boss Louis Gallois in a bid to end  a two-week crisis over delays to its A380 superjumbo.
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A bitter row between America and the European Union over alleged subsidies to rival aircraft makers Boeing and Airbus intensified yesterday.
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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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The crisis at Airbus is to feature in a top-level Franco-German meeting in Paris this week amid a blur of uncertainty over cuts to pull the flagship A380 superjumbo out of trouble.