|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Airbus Says Reduction in Production Rates Will Affect Up to 3,700 Jobs

LONDON – European plane maker Airbus SE said on Wednesday that it would cut production of its flagship A380 superjumbo commercial plane and the A400M military transport aircraft due to weak demand, according to a report by Dow Jones.

The reduction in output plans is due to take effect from 2020 and will impact about 3,700 jobs, the company said in a statement. It also said it would try to shift most of those employees to work on booming plane programs.

Airbus has had to repeatedly cut output plans for the A380 because of a lack of orders for the plane. It said it plans to build six planes a year starting in 2020.

Emirates Airline, the world’s largest international airline by traffic, last month said it would buy up to 36 more of the A380 superjumbos. That deal allows Airbus to sustain A380 production at what it described as a minimum production rate for several years while minimizing losses.

A400M production would be reduced to 15 planes this year, 11 in 2019, and eight thereafter, according to the Dow Jones report.

Airbus Chief Financial Officer Harald Wilhelm said last month that lowering build rates for both plane models would stretch the time the aircraft are in production and buy time to win new orders, without which Airbus is at risk of losing money on both plane programs.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved