Airbus at risk of collapse says CEO

An Airbus A350-1000XWB touches down at Farnborough (Image: Aviation Media Agency)
An Airbus A350-1000XWB touches down at Farnborough (Image: Aviation Media Agency)

Airbus CEO Guillaume Faury has warned that Airbus is potentially at risk of collapse due to the ongoing global crisis caused by the Coronavirus pandemic.

Speak to French Radio station RTL said that the company must take the right measures to protect the business and if it didn’t then the future of Airbus is “business is potentially at risk”.

He reiterated that fact that the company would need to shed around 15,000 jobs to survive and it had reached the point where it could not rule out compulsory redundancies despite a recent update saying that 13,000 of its workforce undergoing voluntary redundancy.

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Mr Faury said “The situation is so serious, and we are faced with so much uncertainty, that I think no one can guarantee there won’t be compulsory redundancies if we’re to adapt to the situation, especially if it evolves further,”

Airbus has seen a sharp decline in aircraft deliveries to the aviation industry due to the pandemic and as a result, has seen a 65% drop in commercial aircraft revenue.

It’s half year report for 2020 showed that 145 aircraft had gone undelievred.

It has already cut production of its airliners including the A350 which has been cut from 6 to 5 per month, the best-selling Airbus A320neo family which is being cut to 40 per month and the A330neo which is being reduced to just 2 per month.

About Nick Harding 1197 Articles
Nick is the senior reporter and editor at UK Aviation News as well as working freelance elsewhere. He has his finger firmly on the pulse on Aviation, not only in the UK but worldwide. Nick has been asked to speak in a professional capacity on LBC, Heart and other broadcast networks.