Airbus partners wrangle over cuts

Airbus partners are not expected to announce agreement on a restructuring programme as an overhaul of its business.

Amid partner disagreement, the restructuring proposals have been put on hold despite costly overruns on new aircraft.

EADS, the Airbus parent company, wants to trim costs by 5bn euros by 2010 in a bid to recoup losses and increase productivity.

Airbus, which has plants in the UK, France, Germany and Spain, currently employs around 57,000, and is reported to be considering axing 12,000 jobs.

Airbus, unable to reach agreement on a consensus between the partners on the division of the contracts for the new aircraft, will be holding further meetings on the issue.

(SP/KMcA)