Friday, November 23, 2007

Weak Dollar Threatens Airbus

There will be one or two smiles at Boeing no doubt.

The weak dollar is threatening the survival of European planemaker Airbus, chief executive Tom Enders told workers in Hamburg on Thursday.

And the firm once again warned that its cost saving plan would have to cut deeper to counter the impact of the weakening US currency.

Airbus is owned by European aerospace and defence group EADS.

"The dollar's rapid decline is life-threatening for Airbus," Mr Enders said in the speech to employees.

"The dollar exchange rate has gone beyond the pain barrier," Mr Enders added.more

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