European aircraft manufacturer Airbus may sell some of its factory facilities as part of a radical restructuring plan that is expected to be announced later this month, said CEO and Vice President of EADS, Louis Gallois.
"We have excellent facilities in Germany, France, Britain, and Spain," Gallois told the German daily Die Welt. "However, we cannot afford in the long term to invest on our own in everything necessary to maintain each facility. Therefore, we must discuss which locations would make more sense to operate business with partners," he stated. It is already speculated that Airbus could sell some of its factories as part of the restructuring plan called "Power 8."
Gallois asserted that operating factories with partners would open access to investments and new markets and contribute to job preservation in the long term. In no case, he said, is there any reason to predict severe troubles. Hit by problems in the production program of the superjumbo A380 aircraft, Airbus will soon announce a plan for drastic cost reductions. Its announcement is scheduled for February 20. German unions are concerned that 8,000 German employees could lose their jobs in this program. Airbus employs a total of 23,000 full-time people across seven facilities in Germany, plus an additional 6,300 who are temporarily employed. (H)
