Airbus announced a record number of jet orders for 2005, unexpectedly beating Boeing’s tally for a fifth straight year. But the European plane maker fell behind its rival on order value as sales of its larger planes failed to keep pace. Airbus announced a review of its long-range A340 airliner in the wake of disappointing orders.

Aircraft industry giant Boeing has issued 60-day redundancy notices to around 340 employees, in an indication that it may continue cutting jobs in its commercial plane division into next year.

Boeing, the world's largest aircraft maker, is expected to announce it will lay off up to 5,000 workers from its Seattle-based commercial jet unit, and a formal announcement may be made today.