Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Exclusive: Airbus draws up contingency plan to slow or halt output - sources

Published 03/16/2020, 02:13 PM
© Reuters. The logo of Airbus is pictured at their facility in Montoir-de-Bretagne near Saint-Nazaire
AIR
-

By Tim Hepher

PARIS (Reuters) - Airbus (PA:AIR) has drawn up contingency plans to slow or stop production if France is placed under a drastic lockdown due to coronavirus, two people familiar with the matter said.

The plans, which range from a progressive slowdown to a full shutdown in production, anticipate a ripple effect from the lockdown across the planemaker's main industrial network in four countries, France, Germany, Britain and Spain, they said.

A complete halt in production is not currently seen as the most likely development, but that will depend on the nature of fresh health measures expected to be announced later on Monday.

"As we speak, our production facilities are open with strict health and safety protocols following national regulations. We are permanently following the situation and developments in our home production countries," an Airbus spokesman said.

He added: "We are looking at all kinds of scenarios to maintain business continuity."

© Reuters. The logo of Airbus is pictured at their facility in Montoir-de-Bretagne near Saint-Nazaire

Contingency planning accelerated on Monday as French President Emmanuel Macron prepared to make a televised address to the nation at 1900 GMT, amid speculation that France may consider new measures to deal with the coronavirus outbreak.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.