Airbus to reduce production by 40% over next two years

Airframe maker Airbus will reduce its production and deliveries by around 40% over the next two years, and potentially lay-off tens of thousands of employees, according to an interview with the German media yesterday. “We cannot disconnect ourselves from developments among airlines,” Airbus senior executive Guillaume Faury said German newspaper Die Welt. At the end of Q1, Airbus reported a net loss of €481million while consolidated revenues fell by almost a sixth to €10.6billion from the first three months of 2019. Airbus had been talking about reducing production by around 30%, but this forecast has now been raised to 40%.