Don't miss

Replay


LATEST SHOWS

FOCUS

Iranian women push boundaries through sport

Read more

MEDIAWATCH

Crowds, Lies & Alternative Facts

Read more

ENCORE!

Backstage at the Haute Couture show of designer Julien Fournié

Read more

BUSINESS DAILY

President Trump pulls US out of TPP trade deal

Read more

IN THE PAPERS

'Donald Trump is rolling back the clock on diversity in the cabinet'

Read more

IN THE PAPERS

Did France's left inflate turnout figures in round one of the primary?

Read more

ACROSS AFRICA

Dozens killed in attack on military camp in Mali

Read more

THE DEBATE

Splintered left: French Socialists divided ahead of primary run-off (part 1)

Read more

THE DEBATE

Splintered left: Are Europe's Social Democrats obsolete? (part 2)

Read more

EADS instates restructuring plan despite significant profit

Latest update : 2008-07-30

Despite reporting a tripled first half operating profit, the European aerospace group EADS has announced a new cost-cutting plan to be implemented later this year. The group is hit notably by the weakness of the dollar.

The European aerospace group EADS, which controls Airbus, reported a tripled first-half operating profit on Wednesday, but also announced a new cost-cutting programme later this year.

EADS, already in the throes of a vast restructuring to overcome deep problems brought to light by delays in the A380 superjumbo airliner programme, reported a first-half operating profit of 1.158 billion euros (1.80 billion dollars).

The group is also hard hit by the weakness of the dollar and has warned that it must shift some of its production out of the eurozone, and wants to develop facilities also in the United States.

In a statement on Wednesday, it announced an extension of its existing "Power8" restructuring plan with another called "Power8 plus", which would concern "internationalisation of the cost base."

Date created : 2008-07-30

COMMENT(S)