EADS to make further cost cuts

Posted on 30 Jul 2008 by The Manufacturer

EADS has announced plans to extend its Power8 restructuring programme in the hope of making further cost cuts.

The firm now aims to save a further billion euros (£790 million, $1.6 billion) per year from 2011 to 2012, on top of the five billion euro saving it already hopes to achieve during the first five years of the project’s implementation.

Three-month results for the company show net income to have risen 46 per cent between April and June compared to the same period last year, and it has increased its Airbus order forecast for 2008 having received a total of 247 aircraft orders at the Farnborough Air Show.