The chief executive of Airbus on Wednesday said the plane maker is in the midst of the “gravest crisis” the aerospace industry has ever known, just a day after job cuts plans at British Airways were announced.
Guillaume Faury’s comments follow a turbulent period for the group since the coronavirus outbreak.
In a recent letter he told the firm’s 135,000 staff to brace for potentially deeper job cuts and the company later said it would furlough 3,200 employees at its north Wales site.
Airbus made a €481 million net loss for the first quarter compared with net income of €40 million a year earlier.
Revenues decreased to €10.6 billion from € 12.5 billion, reflecting the difficult market environment impacting the commercial aircraft business, with 40 less deliveries than a year earlier.
Plane makers, airports and airlines have all been impacted by Covid-19 travel restrictions.
International Airlines Group yesterday said its British Airways division was notifying trade unions about a proposed restructuring and redundancy programme.
The proposals remain subject to consultation, but it is likely that they will affect most of British Airways' employees and may result in the redundancy of up to 12,000 of them.
