Airbus cost-cutting won’t solve problems

Airbus chief executive Christian Streiff knows the major cost-cutting plan he unveiled last week will not wipe away his company’s woes overnight.

7th October, 2006

‘‘It will take us about ten years to match Boeing’s performance again in terms of development and efficiency,” said Streiff.

After Airbus admitted further costly delays in the delivery of its star A380 airliner, Streiff launched the Power 8 restructuring plan, which includes severe cuts.

Management and administrative overheads must fall by 30 per cent by 2010, if the company is to achieve a 20 per cent productivity jump. Streiff said...

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