It is absolutely vital that action is taken within the next few days to restore the situation

Jim Wells assembly member

Mr Wells believes the next few days will be crucial for the plant as the management decide what steps to take.

"This company is the most exposed company in Northern Ireland to the American airline industry and the rapid downturn following the tragic events of September 11th has left the order book denuded," he said.

"I understand there's a possibility another major order will be postponed or lost today.

"Jobs are in danger and it's absolutely vital that action is taken within the next few days to restore the situation."

South Down MP Eddie McGrady has pledged to do what he can to avoid job losses at the plant.

He said large-scale job losses would be devastating for the area.

It is understood Economy Minister Sir Reg Empey and the Industrial Development Board are involved in efforts to safeguard jobs at the factory.

In a separate development the Stormont Executive is to establish a temporary jobs centre at the Interpoint Centre in Belfast.

Last week Bombardier Aerospace announced it was shedding 890 jobs at its Shorts plant in Belfast, with another 1,100 expected to go in the new year unless the economy stages a dramatic recovery.

It is potentially the biggest single loss of jobs in Northern Ireland in decades.

But this was followed by confirmation that British Airways and Aer Lingus are to cut routes from the province.

Sir Reg Empey: Announced establishment of jobs centre

Speaking to the Stormont Assembly on Monday, enterprise minister Sir Reg Empey announced the establishment of the jobs centre.

He said: "My officials in the Training and Employment Agency are working closely with Shorts to ensure that a full range of advisory and support services are available to all those who will be losing their jobs."

I see little point in talking our way into a doomsday scenario

Sir Reg Empey

Sir Reg also warned that the the Northern Ireland economy must brace itself for further blows, and said the immediate outlook was grim.

He said: "I have to inform the House today that there is a strong likelihood of more bleak economic news on the way."

He said the total potential job losses could be more than 2, 200 "at its bleakest".

"Hundreds more who work in downstream businesses are waiting to see how they will be affected," he said.

"If the downward momentum isn't arrested, the expectation must be that number of economic casualties will grow."

The minister urged everyone to work to cushion the blow rather than accepting that a full-blown global recession was inevitable.

"No one should deny the difficulties, but I see little point in talking our way into a doomsday scenario," he said.

Although Northern Ireland's role in a co-ordinated worldwide response would be limited, local efforts should be focused on protecting the local economy, he said.

And he expressed confidence that Bombardier-Shorts would emerge from the current setback to continue to play a pivotal role in the province's economy in future years.

SDLP Employment Minister Sean Farren pledged his staff's full co-operation to help minimise the jobs blow.