Sagging 50-seat jet market sends Gamesa into tailspin
Gamesa, the Spanish aerospace equipment manufacturer, has begun a drastic cost-reduction plan for the current financial year following a two-thirds plunge

Gamesa, the Spanish aerospace equipment manufacturer, has begun a drastic cost-reduction plan for the current financial year following a two-thirds plunge in profits due mainly to a reduction in orders from Embraer. The company does not expect that new business from the Airbus A380 super-large airliner will compensate for its short-term revenue loss and has warned that if action is not taken, it expects losses next year. Its plight illustrates the lingering effects on second-tier suppliers of the recent market downturn.

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