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EADS says work on Airbus restructuring proposal postponed

EADS says work on Airbus restructuring proposal postponed

The European Aeronautic Defence & Space Co. said Monday that it has postponed talks on its so-called "Power 8" proposal that was expected to outline a restructuring for Airbus.
The main issue, EADS said, is how to divide up the workload internationally on the A350 XWB, the mid-sized airliner that is the company's euro11.6 billion (US$15.4 billion) answer to Boeing Co.'s 787. The A350 XWB is planned to enter service in 2013.
In a brief statement released from its Amsterdam offices, EADS said its board of directors had interrupted its work on the plan but said it would resume in a few days. It did not give specifics. It also said that a meeting of Airbus' works council scheduled for Tuesday was postponed.
After concentrating massive resources on its behind-schedule flagship A380 superjumbo, Airbus has been outmaneuvered by Boeing's two-engine 787, which delivers better fuel economy than older four-engine Airbus jets in the same size category.
The superjumbo's overall two-year delay wiped euro4.8 billion (US$6.4 billion) off profit forecasts over four years and has forced Airbus to consider basing assembly work on new models at a single site, rather than splitting it among several countries.
Shares of European Aeronautic Defence & Space Co. were up 2.1 percent to euro25.65 (US$33.71) in Paris.