Following comprehensive discussions on the Power8 programme during several Airbus European Works Council (ECA) meetings, Airbus is now starting negotiations at national level with its social partners, with regular reviews at ECA level to continue.

These negotiations are to analyse in more details the reasons and the consequences of the plan. They are also to agree on the appropriate social measures to be applied in line with local regulations and agreements in order to achieve the overhead reduction targets set in Power8. These objectives are to be reached on the basis of mutually agreed voluntary retirements, departures and redeployments, amongst other measures.

The process is beginning in France with the calling together of the Works Councils and the handing over of the legally required documents. Starting with Airbus' current market and financial situation, these documents demonstrate how Power8 will turn-around the company in order to ensure a strong and competitive Airbus to face the challenges of the next decade.

In the United Kingdom and Spain, the national consultations have started, and are equally following national rules and regulations. In Germany, they will start in June.

Implementation of the reduced overhead cost measures based only on voluntary departures will only begin once consultations at national levels have been finalized. As already stated, the plan is to be implemented over a four-year period.

In parallel to the consultations on reducing overhead costs, Airbus is setting up dedicated project teams for each site that is being considered for partnership or sale. Potential partners are then to confirm their interest, following which negotiations can start. These partnership agreements should be completed later in the year.

Power8 is now fully up and running on actions which do not require negotiations with social partners. This programme is about turning Airbus around to face future growth and success. It will ensure that it both has the funds and the capability to meet the challenges ahead.