Commercial jet builder Airbus SAS plans to cut roughly 500 jobs in Britain to counter slowing demand from airlines, Airbus chief executive Mr Noel Forgeard said today.
"For Airbus UK the total number of job losses will be roughly 500," Mr Forgeard told reporters at the company's Toulouse headquarters. He said no job cuts were planned in continental Europe.
Mr Forgeard also said Italian firm Finmeccanica had agreed to become a risk-sharing partner in the planned A380 superjumbo jet. But he said the Italian firm would end up taking a stake closer to 5 per cent than 10 per cent.
"It is closer to the bottom of the range," Mr Forgeard said. Finmeccanica had said it would take a stake of between 5 and 10 per cent in the $10.7 billion programme.