labels: aerospace, jet airways, eads
Chief Executive says Airbus has turned the cornernews
19 June 2007
Paris: After a yearlong crisis linked to production problems on its A380 super jumbo project, Airbus says it has now turned the corner. Speaking at the Paris Air Show, chief executive of the European airframe manufacturer, Louis Gallois, said: "Airbus is back."

"I can tell you with full confidence that Airbus is back and fully back, as you have started noting yesterday as demonstrated by our first day announcements," said Gallois on the second day of the air show.

Gallois's confidence would have also stemmed from a raft of new orders that it has secured, including that from Qatar Airways, which confirmed an existing $16bn (£8.1bn) order for 80 A350 Airbus planes, and also ordered three A380 super-jumbos for about $750mn.

On Monday, Airbus also secured orders from US Airways, worth $10bn, for 22 of its A350 planes, 60 A320s and ten of its A330-200 wide-body jets.

In March, Airbus had unveiled a major cost-cutting programme intended to reduce the workforce in Europe by 10,000, as well as announcing a restructuring of the group.

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Chief Executive says Airbus has turned the corner