Airbus to cut jobs and sell sites

February 28, 2007

All or part of six of Airbus' 16 sites will be sold as part of the "Power8" plan, designed to allow Airbus to remain competitive with its U.S rival Boeing in the dollar-denominated airliner market. The planemaker has suffered a series of crises, and its financial and production structure has been undermined by a weak U.S. dollar and costly delays in the delivery of the A380 superjumbo.