European Aeronautic Defence and Space Co.(EADS), the parent company of Airbus, said Monday it had decided to postpone an announcement scheduled for Tuesday about a restructuring plan for the airplane builder, citing disagreements among countries working on the A350 aircraft project.

"Yesterday evening, February 18th, the board of EADS interrupted its work on Power 8," EADS said in a statement referring to the plan. "The meeting will be resumed within the next days to find an agreement regarding the cross-national sharing of the industrial workload related to the A350 XWB."

Louis Gallois, EADS co-CEO and Airbus CEO, said in a statement that "Airbus cannot delay any longer implementing Power 8."

Airbus has been experiencing a financial crisis following the delay in the delivery of its superjumbo A380. The two-year delay has led to order cancelations and a 4.8 billion euro (6.2 billion U.S. dollars) profit warning.

Airbus received orders for 790 airliners in 2006, for the first time since 2000 that it fell behind Boeing which posted orders of 1,050 in the same period.

The restructuring plan could include cutting more than 10,000 jobs.

Source: Xinhua