New French Airbus CEO - Cut Hamburg and 10,000 jobs

EADS co-Chief Executive Louis Gallois took over as head of Airbus late on Monday when Christian Streiff resigned after just 100 days in the job.

Gallois told Europe 1 radio in Paris when on his way to meet managers at Toulouse: "It will be painful, yes, because there will be job cuts." (Trans : 20% of it's 55,000 staff)

"We have to ask questions about the sites, the assembly lines, in order to rationalise it," Gallois added. "We cannot live with two sites that each share all the assembly lines." ( Trans : Hamburg is definitely going)

Rating agency Fitch on Tuesday said the latest management changes highlighted corporate governance issues that were "inherent weaknesses" within EADS. It cut EADS's debt ratings.

EADS shares rose 3.6 percent to close at 20.89 euros (14 pounds), after dropping over 36 percent so far this year.

Meanwhile ...

Bole International Airport at Addis Abeba has been chosen as the next Airbus 380 test site for the local altitude of 2,500 meters above sea level with trials to srat in the next 7 days. Take the attention off Darfur anyway.

Reuters report more exciting news from Addis...there is a leopard on the loose in the UK Embassy compound.