Airbus Warns 15,000 Job Cuts ‘Not the Worst Case’ Scenario
- Planemaker’s resizing based on air traffic rebound by 2021
- If second wave of virus hit, ‘we’d have to adapt again’: Faury
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Airbus SE Chief Executive Officer Guillaume Faury warned that a plan for 15,000 job cuts is “not the worst case” scenario facing the company in the battle to steer through the ongoing Covid-19 aviation crisis.
The move to eliminate 11% of global headcount is based on what the jetmaker expects to be the most likely pace of market recovery, the CEO said, namely that domestic air traffic picks up significantly by the end of 2020 and long-haul traffic rebounds by summer 2021. If that doesn’t happen as predicted, the manufacturer will have to revisit its plans, Faury said in a phone interview.