France proposes to aid Airbus as workers intensify protest against job cuts

In an interesting twist in the story, the French government, motivated by presidential candidates into responding to huge job cuts at Airbus, said that it was ready to pump cash into the ailing plane maker and shake up a Franco-German power-sharing pact. French Prime Minister Dominique de Villepin has also asked the Airbus parent firm EADS to cancel paying a dividend this year to its shareholders that include the French government itself. The fresh decision or stance taken by the government after Airbus announced plans to cut 10,000 jobs including 4,300 in France. Clearly now, Airbus’s restructuring plan is now facing fresh challenges as attempts to streamline the plane maker take center stage in the French presidential campaign. As a matter of fact, both leading candidates in the French election for the post have promised to help the troubled subsidiary of Franco-German European Aeronautic Defence & Space Co., despite Airbus managers have categorically said they do not want political involvement in their internal matter. In the meanwhile, political tones received another alarm as thousands of striking Airbus workers demonstrated in Toulouse, the European aircraft maker’s headquarters, to protest plans to cut 10,000 jobs and spin off or close six European plants. In addit6ion to it, Airbus is also planning to sell or close three plants and find industrial partners for acquisition and upgrade three more facilities producing fuselage and wing parts.