Airbus SE engages in the design, manufacture, delivery, and provision of aerospace products, space, and related services. It operates through the following segments: Airbus Commercial Aircraft; Airbus Helicopters; and Airbus Defence and Space. The Airbus Commercial Aircraft segment develops, manufactures, markets, and sells commercial jet aircrafts; and offers aircraft conversion and related services. The Airbus Helicopters segment deals with the development, manufacture, marketing, and sale of civil and military helicopters. The Airbus Defence and Space segment covers systems and services in the field of defence and space for governments, institutions, and commercial customers. The company was founded on December 29, 1998 and is headquartered in Leiden, the Netherlands.
Airbus SE EPA:AIR
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Airbus SE (EPA: AIR) expressed plans of cutting around 15,000 jobs on Tuesday. The layoff, the company said, also includes 900 workers that it has already earmarked in Germany. The company attributed its decision to the Coronavirus pandemic that has so far infected more than 10 million people worldwide and caused over a quarter million deaths. Shares of the company posted an about 2% intraday decline on Tuesday. At £58 per share, Airbus is curren...
Airbus SE (EPA: AIR) said on Friday that it is extending the ongoing furlough for a total of 5,300 employees in the United Kingdom and Spain as the Coronavirus pandemic continues to weigh on the global airline industry. In an emailed statement, a spokesman for Airbus commented: “This will be effective from 20th May till 30th September and affects all Airbus Operationss SL employees in Spain (with some exceptions), which means around 3,100 employe...
The Coronavirus pandemic has brought the global travel and tourism industry to a near halt. Numberless airlines, including Etihad Airways, have been pushed into grounding fleets, minimising flights, and deferring deliveries of jetliners. Amidst the chaos, Airbus (EPA: AIR) warned on Friday that it will pursue litigation against airlines that dishonour existing contracts. Shares of the company posted an about 8% intraday gain on Friday. At £72.20...
In its recent update of the impact of COVID-19 on performance, Airbus (EPA: AIR) warned its employees that they should brace for deeper layoffs in the upcoming months. The world’s largest airplane manufacturer currently employs 135,000 people. As per the company, the pandemic is threatening its survival and immediate action is required to remedy the situation. According to CEO Guillaume Faury’s letter to employees, the cu...
Airbus (EPA:AIR) cited the rising uncertainty ascribed to the Coronavirus pandemic for slashing production of its most-popular A320 jetliner earlier this week. On Friday, the world’s largest airplane manufacturer also deferred plans of establishing a new assembly line dedicated to its A321 airliner in Toulouse, France, as it continues to combat the economic blow from the health crisis. Originally, the European airplane manufacturer had anno...
The Coronavirus pandemic is raising new industrial and delivery related challenges for the world’s largest airplane manufacturer, Airbus (EPA:AIR). In its announcement on Friday, Airbus said that it plans on slashing output of its A320 jetliner to combat such challenges. A320 marks Airbus’s top-selling plane series. As per the sources, Airbus is expected to reduce the production of its A320 jetliner from 60 per month to 30 per month (...
The ongoing Coronavirus pandemic has weighed heavily on the global businesses with the airline industry have taken the greatest hit. Worldwide carriers are seeking government financial support to survive through the health emergency that is threatening to push the global economy into recession. Worldwide airlines are also resorting to massive job cuts, curbing expenditures, and canceling flights. The lower demand is also reflecting on the financi...
Airbus (PA:AIR) said it will suspend operations at its production facilities in France and Spain for four days to protect its staff in the manufacturing sector from coronavirus. “This will allow sufficient time to implement stringent health and safety conditions in terms of hygiene, cleaning and self-distancing, while improving the efficiency of operations under the new working conditions,” Airbus said in a statement. Yesterday, Reuters reported...
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