Airbus CEO warns workers it is bleeding cash and needs cuts
Urgent need to slash costs as company's 'very existence' may be at risk: Faury
Sign up now: Get ST's newsletters delivered to your inbox
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.
