Today's lesson is outsourcing:
PARIS, Sept 29, 2006 (AFP) - The new chief executive of Airbus was Friday outlining a vast restructuring plan for the ailing aircraft maker that could involve major job cuts and shifting more production out of Europe.
Christian Streiff was presenting the plan in Amsterdam to the board of Airbus's parent company EADS following further delays to the A380 superjumbo project, a key part of the Airbus' battle to keep up with US arch-rival Boeing.
The presentation came a day after Airbus suffered another setback when European and US aviation authorities said the A380's powerful wake meant that other aircraft would have to keep a greater than usual distance between themselves and the giant plane.
This could led to more congestion at airports, and thereby reduce the appeal to airlines of the A380, which can carry 840 people and will be the biggest civilian airliner when it enters service next year.
When Streiff became Airbus's chief executive on July 7, he set himself 100 days to produce a plan to take the company out of the crisis that began in mid-June when EADS shares fell 26 percent after it said A380 deliveries would be delayed by up to six months.