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Old 9th October 2006 | 15:57
  #91 (permalink)  
Taildragger67
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From: Stuck in the middle...
This has been on the Beeb website since this morning (http://news.bbc.co.uk/1/hi/business/6033063.stm):

Reports say Airbus boss may quit

Mr Streiff is said to want more funds to turn around the A380 project
Shares in aerospace group EADS fell 1.5% on Monday, amid speculation that the head of its troubled Airbus subsidiary is planning to resign.
Reports say Airbus chief executive Christian Streiff wants to stand down in a row over how much money the firm needs to recover from major delays.

With its A380 superjumbo now put back by two years, Mr Streiff is said to want more cash to tackle the matter.

Airbus has denied that Mr Streiff is to leave the company.

EADS said the reports of his imminent departure were simply speculation.

French backing

French Prime Minister Dominique de Villepin defended Mr Streiff at the weekend, saying he saw no reason for him to resign.

The A380 has become a major problem for Airbus

Mr Villepin said Mr Streiff was "doing tremendous work".

The opinion of the French government is important, because it owns 15% of shares in Franco-German EADS.

Mr Streiff became head of Airbus in July, after the planemaker first informed customers that deliveries of the new A380 would be delayed because of a wiring problem.

The German edition of the Financial Times said on Monday that if Mr Streiff resigns he is likely to be replaced by EADS co-chairman Louis Gallois.

It speculated that Mr Gallois would continue in both jobs.

The development of the A380 has been blighted by delays.

Airbus has sold 159 of the $250m (£134m) jets to 16 airlines, many of whom are already demanding penalties for late delivery.

The airline currently plans to cut $2bn in costs from 2010 onwards, a move that has caused concerns in France, Germany and the UK, where the bulk of its manufacturing operations are located.



"Christian Streiff" - appropriate name...
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