German Chancellor Angela Merkel and French President Jacques Chirac jointly backed Airbus's Power8 restructuring plan Friday as a revised proposal put forward by EADS co-CEO and Airbus CEO Louis Gallois appeared to ease German opposition to the cost-cutting program, details of which could be revealed as soon as this week and likely no later than next week. The two heads of state issued a joint statement following a summit meeting in Germany emphasizing that they "stand behind Airbus." They ...

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