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09 September 2008

Airbus announces Power 8+

Airbus has presented today to its European Work Council (ECA) the Power8+ programme. It is designed to deliver cost savings of ? 650 Mio. in 2012, adding to the Power8 target of ? 2.1 bn for 2010. Power8+ will be partly achieved by extending the Power8 initiatives up to 2012 (? 350 Mio.) and partly by further internationalisation of engineering and manufacturing work (? 300 Mio.). Power8+ does not envisage social plans for further headcount reductions. Power8+ is Airbus' contribution to EADS' ? 1 bn cost cutting initiative.

"Power8 is the centre piece in Airbus' restructuring and integration efforts and we have been very successful in achieving our targets so far," says Tom Enders, Airbus President and CEO. "However, markets and competition remain challenging. Further measures to improve our cost base and overall efficiency are necessary to secure the long-term competitiveness of our company. By pushing forward with internationalisation we secure growth, we take advantage of lower cost structures, we access talent on a world-wide basis and, simultaneously, support employment and core competences in Europe."

Airbus is an EADS company.

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