Wed, Feb 21, 2007
German, French Politicos Meet To Ease Crisis
Some details of the stalled "Power8" restructuring program for
Airbus emerged Tuesday, as French minister Dominique de Villepin
told the Financial Times the controversial plan called for the
elimination of some 10,000 jobs -- almost 20 percent of Airbus'
worldwide work force.
As Aero-News reported, Airbus
parent company EADS scrapped Tuesday's planned announcement of the
program when French and German shareholders disagreed on
distribution of work on the planemaker's upcoming A350 XWB widebody
jet. The abrupt cancellation shed light on what many analysts
believe is everpresent conflict between factions in the
pan-European consortium.
Politicians on both sides tried to downplay the severity of the
crisis. On Friday, German chancellor Angela Merkel is scheduled to
meet with French president Jacques Chirac. The meeting was planned
ahead of time... but it's likely Airbus will dominate that
meeting.
British trade and industry secretary Alistair Darling will meet
with his German counterpart, Michael Glos, early Wednesday. Louis
Gallois and Tom Enders -- the French and German co-CEOs of EADS,
respectively -- are also scheduled to meet to discuss a possible
solution.
"Their teams are talking again already," said an EADS official
in Germany, adding a resolution in the conflict could come as early
as next week.
Airbus needs to cut $2.8 billion in annual expenses, in order to
give the planemaker the capital needed to develop the A350 XWB --
the planemaker's answer to rival Boeing's upcoming 787. Job cuts
and associated plant closings are part of that plan.
The problem lies in where the axes will fall. The Times reports
two machinist plants in Germany are believed to be on the chopping
block -- and if German workers need to be laid off, officials in
that country want their French counterparts to feel some of their
pain, as well.
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