The Chief Executive of Airbus, Guillaume Faury, says the company is losing money at an unprecedented speed and as such cutting production by a third.
His remark was stated in a report to workers on the impact of the coronavirus pandemic on the planemaker. The report comes as the aviation industry is expected to shrink significantly in the wake of the Covid-19 outbreak.
According to the Reuters news agency, Mr Faury told the company’s 135 thousand staff to brace for potentially deep job cuts and warned that its survival is at stake without immediate action. Airbus is this week due to deliver financial results for the first quarter of the year.
