New Airbus Chief Warns of Job Losses on the Road Ahead

Louis Gallois, the new CEO of Airbus has warned there are likely to be “painful” job losses at the company following the announced delays to its A380 super jumbo.

Mr. Gallois was reported by the BBC to have said that cost-cutting plans would include the “eliminations of posts, and we will have to pose questions about sites”.

Meanwhile, Spanish economy minister Pedro Solbes has said that Spain was interested in raising its minority stake in EADS, the parent firm of Airbus, to safeguard factories. And German Economy Minister Michael Glos has said his government would “work with all its strength” to help local sites.

Louis Gallois took office at Airbus´ headquarters in Toulouse on Tuesday, meeting with the Airbus Executives, as well as with the local Officials and Union representatives.