Airbus is expecting a 40% drop in production over the next two years, its Chief Executive Guillaume Faury said
) was finalising an imminent restructuring plan involving thousands of job cuts on Monday as its chief executive confirmed plans to hold output down by 40% for two years.
Political sources said Airbus seemed to have postponed the shake-up to avoid undermining the announcement in June of a French aerospace support package. But it wasted no time in preparing opinion after French municipal elections on Sunday. “For the next two years - 2020/21 - we assume that production and deliveries will be 40% lower than originally planned,” Faury told the German newspaper.
But industry sources say the 40% cut in underlying output, based on a weighted internal scale called “single-aisle equivalent” production, is driving the expected restructuring. One person familiar with Airbus said cuts of anything below 25,000 could be seen as conservative in the light of output plans. Unions have promised to oppose any “overreaction”, however.
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