Airbus fears 'weak-dollar death'
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.
And he said that Airbus's entire business model needed reviewing as "reasonable processes of adjustment" were hardly possible now, he said.
Airbus is already shedding about 10,000 jobs and selling plants as part of its Power8 restructuring plan after delays to its A380 superjumbo drove the planemaker into a loss last year.
- WE WIN; THEY LOSE: GOOD.
- YOU SEE, A "WEAK" DOLLAR IS NOT SUCH A BAD THING - OR ONLY A NEGATIIVE THING. BUT YOU'LL NEVER EVER HEAR THE MSM DEAL WITH IT THAT WAY WHEN THERE 'S A CONSERVATIVE IN THE WHITE HOUSE.