Airbus Says Fewer Sales, Layoffs Possible | Business| Economy and finance news from a German perspective | DW | 14.01.2003
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Airbus Says Fewer Sales, Layoffs Possible

European airplane manufacturer Airbus is warning that 2003 will be a difficult year -- and says job cuts may be on the horizon. But Airbus is also marking a victory. For the first time in its history, the company expects to sell more planes this year than its American rival Boeing. In 2002, Europe's largest aircraft producer posted sales of €20.5 billion ($21.7 billion),down just €1 billion from the previous year. Overall, however, airlines reduced their orders for new jets by 25 percent, and the company says a weaker dollar could also dampen foreign sales.