Airbus chief Thomas Enders has warned that the European plane maker might have to take new measures to counter the euro's rise against the dollar, which he said had 'exceeded tolerable limits.'
Even though Airbus has reported plenty of new orders it expects 'enormous losses' from foreign exchange effects, Enders told an Airbus works committee meeting in northern Hamburg, according to reports.
'We are going to have to take another look at our industrial model,' Anders added. 'It is not sufficiently resistant as it is.'
The Airbus chief executive warned that 'radical measures' would have to be taken and said all spending by the company would have to be reviewed.
The euro's continuing record highs against the dollar is bad news for companies like Airbus that produce goods in euros but sell them in international markets in dollars.
Airbus has launched a cost-cutting plan dubbed Power8 that includes the elimination of around 10,000 jobs in an attempt to save €5 billion by 2010. It was drawn up in response to problems with the company's flagship A380 super jumbo jet programme that plunged the group into crisis last year.
