Aviation giant Airbus is to cut 3700 jobs in Europe. The company has been struggling to find buyers for the world’s largest passenger jet, the A380 and the A400M military transporter.
The bulk of the tanks, fighter jets and helicopters delivered to the Bundeswehr were not ready for deployment, the Defense Ministry has said. Manufacturers delivered 97 large items but only 38 were fully operational.
The aerospace giant plans to cut more than three thousand jobs as it aims to scale back production of its troubled A380 superjumbo and A400M military transporter — Europe's biggest civil and military plane projects.
Once dubbed as symbols of European aerospace prowess, two of Airbus's unwanted A380 superjumbos face the ignominy of being broken up for spare parts after failing to find an airline willing to keep flying them.
The 2017 financial result of Airbus has beaten market expectations as the European aerospace giant reported stronger earnings on rising deliveries. But charges on some of its problem aircraft tarnished the performance.
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