Airbus to launch its 1st USD600m jet plant in US

(MENAFN) Airbus, the European jet maker is taking the fight to Boeing's backyard, as it's inaugurating its first USD600 million production plant in the United States, which will employ about 1,000 workers.

The plant will also contribute enormously to cutting Airbus's costs, and good news started to pour in with the firm's market share in the US doubling to 40 percent against Boeing's 80 percent.

The company expects to get orders for 5,000 new planes in North America over the next two decades, plus being freed from the variations in euro to dollar exchange rate.

"It gives them a larger industrial presence, which could be useful in pursuing defense contracts. It puts pressure on trade unions back in Europe," said an official at Teal Group Corporation.