Categories: News

Airbus boss prepares staff for tough cuts

The Corona crisis is hitting the aviation industry hard. Hardly any more connections, many countries have closed their borders completely to international air traffic. This also affects the major manufacturers of aircraft.

The European Airbus Group has now given a gloomy assessment of the impact of the crisis. In a letter, Chief Executive Guillaume Faury apparently urged the company’s roughly 135,000 employees to prepare for job cuts and deep austerity measures.

Airbus’ survival would be at stake if the group does not take action, Faury said in an internal statement on Monday, which is available to the Reuters news agency. The aircraft manufacturer has begun implementing government-backed programs to leave around 3,000 workers in France, “but we may now need to plan more far-reaching measures,” Faury said.

To limit cash outflow, Airbus announced this month that it would reduce production of smaller models by a third to 40 jets per month. In addition, targets for larger aircraft have been cut: the production of wide-body aircraft is reduced by up to 42 percent.

The real extent of the crisis could only become apparent in months

“In other words, in just a few weeks, we have lost about a third of our business,” Faury wrote in the letter, previously reported by Bloomberg News. “And, frankly, that’s not even the worst-case scenario we might have to face.” The chief executive said the new production plan would remain in place until a more thorough assessment of demand was possible.

Faury assumes a period of two to three months. He said it was too early to fully assess the impact of coronavirus on the aviation industry and the pace of market recovery. Airbus did not comment on the internal communication.

Icon: The Mirror

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Bitcoin Hits New Highs Above $118,000, Triggers Massive Short Liquidations

Bitcoin reached over $118,000 in early July 2025. This quick rise led to $1.1 billion…

14 hours ago

LunarBet Opens $LUNR Token Presale to Disrupt Crypto iGaming with Real Token Utility

BVI, Tortola, 9th July 2025, ZEX PR WIRE, LunarBet has officially opened its $LUNR token…

3 days ago

Inside Tearline’s FlowAgent: A Modular AI Agent Bridging the Execution Trust Gap

British Virgin Islands, BVI, 7th July 2025, ZEX PR WIRE, Enterprise-level adoption of AI agents…

3 days ago

Created by Parents, Backed by Child Experts — Can Hey Bubba Finally Get Preschool TV Right?

Austin, Texas, 8th July 2025, In a sea of overstimulating preschool content, a new YouTube…

3 days ago

ROM: Golden Age Blasts Past 500,000 Pre-Registrations—Join the Buddy Boost Lottery for a Shot at Massive Crypto Prizes

Singapore, 8th July 2025, ZEX PR WIRE, Big news: ROM: GoldenAge—the hottest upcoming blockchain strategy…

4 days ago

Camp Network Acquires Strategic Stake in KOR Protocol to Accelerate Tokenized IP and AI-Native Content

This partnership brings new IP and creative assets onchain to power new forms of collaborative…

4 days ago