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29 Sep 2006

Airbus to restructure after A380 crisis: shares of Russian and Chinese suppliers will be increased

The new chief executive of Airbus today outlined a vast restructuring plan for the ailing aircraft maker that could involve major job cuts and shifting more production out of Western Europe.

Restructuring is intended to increase shares of Russian and Chinese suppliers. New partners will produce about 15% of components for À380 and up to 35% for À350.

Recently, Vneshtorgbank, the second-largest state Russian bank, acquired 5% shares of EADS, which owns 80% of Airbus.

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