Airbus warns staff it is 'bleeding cash at an unprecedented speed' due to coronavirus impact [MSNBC.com]
Boeing Company (The) (BA)
Last boeing company (the) earnings: 4/29 07:30 am
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Source: MSNBC.com
A worker fits a part to a wing of a partially-finished passenger plane of the A320 series in an assembly hall.Sean Gallup | Getty Images News | Getty ImagesEuropean planemakerAirbusIn a letter to staff, Chief Executive Guillaume Faury said Airbus was "bleeding cash at an unprecedented speed" and that a recent drop of a third or more in production rates did not reflect the worst-case scenario and would be kept under review.Airbus said it did not comment on internal communications.Airbus has begun implementing government-assisted furlough schemes starting with 3,000 workers in France, "but we may now need to plan for more far-reaching measures," Faury said."The survival of Airbus is in question if we don't act now," he added.VIDEO1:2401:24Airbus cutting monthly production by a thirdHalftime ReportIndustry sources have said a new restructuring plan similar to its 2007 Power8 which saw 10,000 job cuts could be launched in the summer, but Faury indicated the company was already exploring "
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BA
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- 10/29/25 - Miss
BA
Sec Filings
- 12/3/25 - Form 4
- 12/3/25 - Form 4
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- BA's page on the SEC website