AEROSPACE

Airbus Announces Restructuring: The board of European aircraft maker Airbus Industrie approved a radical restructuring that would allow the consortium to operate as a single company by 1999. Industry observers say the move would allow Airbus to be more nimble, cut costs and become generally more efficient. It would also allow Airbus to seek financing on the world’s stock markets if needed. Airbus Industrie will need fresh funds if it wants to press ahead with a $10-billion project to build a super-jumbo aircraft capable of carrying more than 500 passengers. It was unclear if a restructuring would also mean the end of government payments to Airbus. Boeing Co. and McDonnell Douglas Corp. have long complained that the government payments amount to unfair subsidies.