PARIS • Airbus chief Guillaume Faury has warned employees that the planemaker is "bleeding cash" and needs to quickly cut costs to adapt to a radically shrinking aerospace industry.
With airline customers fighting to survive and unable to accept new aircraft, Airbus is juggling its delivery schedules while reassessing its long-term outlook for the aerospace industry, Mr Faury told staff in a letter sent on Friday and seen by Bloomberg News.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
