For Better Or For Worse, Forgeard Shouldn’t Be Rewarded For Lying

April 10th, 2007

After a spectacular week for the Boeing 787 capped by 500+ orders, the news at Airbus couldnt get any worse if it tried.

Sitting on news for months that the A380 was going to be delayed, Forgeard set about selling EADS stock before the bad news punished the stock price. He knew he’d be booted out, and what better way to go than to secure one’s own financial nest egg along the way.

So its shocking that EADS has then let public the news that Forgeard would be getting a generous severance package for his inept mismanagement and heightened incompetence.

Wanted!

EADS stock seller at large! (Image Courtesy Of bbc.co.uk/news)

At a time when Airbus is facing small scale strike action, news such as this on the back of proposed job cuts as part of the Power8 programme will infuriate employees across the Airbus divisions.

Airlines have been queuing for months to get compensation for A380 delays, and Airbus itself has no funding in place for the A350- so why exacerbate the financial crises by lining the pockets of a man, who by right, should be tried for ill-gotten gains?

Airbus may have trawled through Annus Horribilis during 2006, this year has done it far from any favours. With the Paris Airshow a matter of weeks away, already trailing Boeing in high value widebody orders for the first quarter this year, the company cannot afford to carry the weight of negativity any longer.

The effects of which are already being seen with Aeroflot ready to terminate the A350 deal it chose over the 787 and the inherent failure of Qatar Airways to sign a firm A350 order two years after the deal was announced serves to jeopardise both investor confidence in EADS/Airbus and lose out on existing customers- like that of Gulf Air, who today announced their desire to decrease their reliance on Airbus for future fleet procurement.

Things can quickly snowball out of control- for better or for worse, Airbus should have known better than to line the pockets of a thief that tarred the A380 and the company as a whole.

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