Airbus has shelved plans to add a French assembly line for its A321neo just 10 weeks after the expansion was launched, as the coronavirus fallout ...
PARIS/TOULOUSE: Airbus has shelved plans to add a French assembly line for its A321neo just 10 weeks after the expansion was launched, as the coronavirus fallout spreads to its best-selling jetliner.
Although the plan remains on the table, its urgency has evaporated after Airbus this week announced a one-third cut in output of jets like the A321, sources said. When the recovery does come, small jets are expected to lead the way because they are easier to fill and trip costs are low. "We are reducing all nature of costs which are no longer absolutely necessary for the short term and preserving the ability to go through the crisis," Faury said this week.
Industry sources said a worst-case scenario could include restructuring comparable to its 2007 Power8 shake-up this summer when it has more financial clarity. That is also when Airbus starts its rolling three-year planning process.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Airbus shelves plan to add new A321 assembly lineAirbus has shelved plans to create a new assembly line in Toulouse, France, for its A321 airliner as the company wrestles with the coronavirus ...
Read more »
Airbus' landmark jet output cut faces crucial testPARIS: Airbus' decision to cut output of its best-selling jet by a third amid coronavirus marks a huge shift for the European planemaker, which ...
Read more »
Fed rolls out US$2.3 trillion to backstop 'Main Street,' local governments during crisisThe U.S. Federal Reserve on Thursday rolled out a broad, US$2.3 trillion effort to bolster local governments and small and mid-sized businesses in ...
Read more »
Coronavirus crisis could plunge half a billion people into poverty - OxfamThe fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday. The report released by the Nairobi-based charity ahead of next week's International Monetary
Read more »
Cycling - Bernal auctions bike, jerseys for charity amid coronavirus crisisTour de France champion Egan Bernal is auctioning a bike and several jerseys for a children's charity in Colombia amid the coronavirus crisis.
Read more »
Young doctors brave overwhelming coronavirus crisis'We feel like doctors a century ago when we didn't have antibiotics,' said Vigil, who works in intensive care at Madrid's overloaded October 12 Hospital. On top of their core medical work, the doctors are conduits to worried families, both for daily telephone updates or to pass on
Read more »