Airbus Chief Executive Guillaume Faury said that production and deliveries will be 40% lower than originally planned for the next two years, as the firm draws up rapid restructuring plans due to a global travel slump
) was finalising an imminent restructuring plan expected to include thousands of job cuts on Monday as its chief executive confirmed plans to hold output down by 40% for two years.
It has said it will announce job plans by the end of July, but needs to brief unions and governments on any major overhaul before a two-week “quiet period” ahead of its July 30 earnings. Output will return to normal by 2025, while depressed deliveries are expected to catch up with production by the end of 2021, Faury added in the interview published on Monday.
But industry sources say the 40% cut in underlying output, based on a weighted internal scale called “single-aisle equivalent” production, is expected to drive the restructuring. Helicopter and Defence divisions, which manufacture some parts on behalf of the jetliner parent, will be affected.
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