My finance view

Airbus presented new cost-cutting measures to unions yesterday as part of a parent company EADS plan to seek an additional 1 billion euros ($1.42 billion U.S.) in savings starting in 2010.

In a bid to compensate for the euro’s rise against the dollar and improve competitiveness, EADS CEO Louis Gallois wants to expand production in the dollar zone or in areas where labour is cheap. He has promised the plans will not involve any additional job losses in Europe.

Having failed to sell production sites in France and Germany as part of its original restructuring plans, Airbus has decided to take on board a plan floated by one of the companies it sought to sell the sites to, Gallois said in an interview with Le Monde newspaper published yesterday payday loans.

The plan calls for Airbus to set up a parts factory in Tunisia to make basic parts and to invest in expanding production.

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