Daily Management Review

Airbus CEO: The company's survival is under threat


Head of the European aerospace concern Airbus SE, Guillaume Faury, warned of a threat to the company's survival in the context of the coronavirus pandemic, writes the Financial Times, citing a letter from the top manager.

“We are losing money at an unprecedented rate, which threatens the existence of our company,” he wrote to Airbus employees.

Faury announced the need for urgent action to restore the financial balance of the company. According to the French newspaper Le Figaro, Airbus has transferred about 3 thousand employees in France to part-time work and may opt for additional staff reductions.

Earlier in April, Airbus announced that it would cut aircraft production by a third amid restrictions on international flights due to the coronavirus pandemic.

On Wednesday, April 29, the company plans to publish statements for the first quarter of this year.

source: ft.com