Airbus Suspends Production in France and Spain, Shares Slide

Airbus Suspends Production in France and Spain, Shares Slide (excerpt)

(Source: Reuters; published March 17, 2020)

By Tim Hepher and Sarah White

PARIS --- Airbus announced plans to halt operations at its plants in France and Spain for four days as the coronavirus crisis spread from battered airlines to the manufacturing sector.

The most serious across-the-board disruption in Airbus production since a strike at then British partner BAE Systems in 1989 pushed its shares down 7% as a rebound in other European shares quickly faltered.

“This will allow sufficient time to implement stringent health and safety conditions in terms of hygiene, cleaning and self-distancing, while improving the efficiency of operations under the new working conditions,” Airbus said in a statement.

The “pause” in output came after Reuters exclusively reported on Monday that Airbus had drawn up contingency plans to slow or stop production if France was placed under a drastic lockdown due to coronavirus.

French President Emmanuel Macron late on Monday ordered stringent restrictions on people’s movements to slow the spread of the coronavirus.

At mid-morning, Airbus shares were down 7.1% versus a 1% decline in France's CAC40 blue-chip index.

France’s aerospace capital of Toulouse is home to Airbus’s largest assembly plants as well its headquarters. Its suppliers are also expected to be hit hard by the crisis. (end of excerpt)

Click here for the full story, on the Reuters website.

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Airbus Provides Update on COVID-19 Related Measures

(Source: Airbus; issued March 17, 2020)

AMSTERDAM --– Airbus SE continues to closely monitor the evolution of the COVID-19 virus across the globe and is constantly assessing the situation, the impact on employees, customers, suppliers and the business.

Following the implementation of new measures in France and Spain to contain the COVID-19 pandemic, Airbus has decided to temporarily pause production and assembly activities at its French and Spanish sites across the Company for the next four days.

This will allow sufficient time to implement stringent health and safety conditions in terms of hygiene, cleaning and self-distancing, while improving the efficiency of operations under the new working conditions. In those countries, the Company will also continue to maximise homeworking wherever possible.

These measures will be implemented locally in coordination with the social partners. Airbus is also working together with its customers and suppliers to minimise the impact of this decision on their operations.

Airbus continuously updates its workplace safety and travel recommendations to employees, customers and visitors, according to the latest developments.

Airbus is following the guidance from the World Health Organisation and national health authorities.

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