European aerospace group EADS said on Monday its board had approved the Power8 restructuring plan for Airbus, adding that workers' representatives would be informed of the details on February 28.

Earlier this month the EADS board failed to reach agreement on Airbus plans for job cuts across four countries and work sharing for the new A350.

EADS said it would inform the relevant employee representation bodies before releasing details.

In a statement from Amsterdam, EADS said its board of directors "fully supported the EADS and Airbus management in realizing the plan.

"Power8 shall enable Airbus to better face the challenge of the US Dollar weakness, the financial burden related to the A380 delays as well as its future investment needs," EADS said.

It added the plan will lead to EBIT contributions of EUR2.1 billion euros (USD$2.77 billion) in 2010 and additional EUR5 billion (USD$6.6 billion) of cumulative cash flow from 2007 to 2010.

Last week, French Prime Minister Dominique de Villepin said Airbus would cut 10,000 jobs in France, Germany, Spain and Britain.

The leaders of Germany and France said on Friday a looming restructuring of Airbus should strike a balance in jobs and technological know-how between the countries.

At a summit north of Berlin, Chancellor Angela Merkel and French President Jacques Chirac sought to present a united front amid a row between Airbus shareholders over work share on the firm's new A350 mid-sized plane.

The Franco-German dispute has delayed a restructuring plan expected to lead to some 10,000 job cuts in both countries at Airbus.

As Airbus decides where to cut jobs, it is also considering where work on new jets will be located. Germany does not want to give France the bulk of these new projects for fear it could fall behind in coveted highly-skilled jobs.

Airbus chief Louis Gallois has adapted his original plans to try to meet German demands for a bigger share of the jobs from the next generation of Airbus jets, a union source said on Thursday.

The restructuring is contentious in both countries, where 40,000 of Airbus's 55,000 employees work in 11 factories.

Both Merkel and Chirac said it was ultimately up to company management to decide on the details of the restructuring, with the German leader stressing Airbus's competitiveness against rival Boeing was the main priority.

Wiring problems with the flagship A380 super jumbo jet have led to costly delays in delivering the plane to airlines, driving Airbus into loss last year and forcing it to reassess its entire production process.