looks like airbus is trying to cope from its A380 promblems by boosting other planes like this
Airbus kicked off a $13.2 billion plan Monday to build its A350 XWB wide-bodied jet, which is designed to compete with Boeing’s successful 787 and boost the fortunes of the troubled European planemaker.
CEO Louis Gallois told a news conference that the A350 will be funded through the savings generated by a painful cost-cutting plan, from cash flow and from Airbus’ partners. The cost-saving plan was announced in the wake of delays to the A380 superjumbo and management turmoil that has shaken the company and its parent, the European Aeronautic Defence & Space Co.
EADS approved the A350 plan on Friday. No timetable was released, and it remained unclear where the plane will be made. Gallois said labor unions and local authorities will be informed at the beginning of 2007 of the locale.