EADSY - Airbus SE

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18.44
+0.47 (+2.62%)
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Previous Close17.97
Open18.23
Bid0.00 x 0
Ask0.00 x 0
Day's Range18.18 - 18.56
52 Week Range12.80 - 38.45
Volume195,901
Avg. Volume827,857
Market Cap57.669B
Beta (5Y Monthly)1.59
PE Ratio (TTM)16.84
EPS (TTM)1.10
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateApr 16, 2020
1y Target EstN/A
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  • Airbus' First-Half Deliveries Plunge as COVID-19 Takes Its Toll
    Motley Fool

    Airbus' First-Half Deliveries Plunge as COVID-19 Takes Its Toll

    Airbus (OTC: EADSY) delivered 196 planes in the first half of 2020, half the total from a year prior, as the COVID-19 pandemic led to factory disruptions and quelled demand for new aircraft. Airbus also registered no new orders in June, its second consecutive month without an order. The deliveries number was Airbus' lowest first-half total in 16 years.

  • France urges no sackings at Airbus as workers march over jobs
    Reuters

    France urges no sackings at Airbus as workers march over jobs

    The French government backed union calls to avoid compulsory job cuts at Airbus on Thursday as several hundred workers marched from the company's headquarters to Toulouse-Blagnac airport. Airbus <AIR.PA> plans to cut up to 15,000 jobs because of a drop in demand due to coronavirus crisis, which has sharply lowered air travel and damaged airline finances. French Junior Economy Minister Agnes Pannier-Runacher urged Airbus to avoid compulsory redundancies, echoing a demand from unions in France and Germany where it has its biggest plants.

  • A space odyssey: Britain rockets into unknown with OneWeb
    Reuters

    A space odyssey: Britain rockets into unknown with OneWeb

    Britain is betting that satellite operator OneWeb will help it boldly go into a post-Brexit era. The British government and Indian telecoms conglomerate Bharti Enterprises said last week they would together put up $1 billion to buy OneWeb, which filed for bankruptcy after its biggest backer, SoftBank Group, declined to provide fresh funding. The deal offers a new lease of life for the venture, which was founded by U.S. entrepreneur Greg Wyler with the vision of providing "internet everywhere for everyone" via 648 low Earth orbit satellites.

  • Rolls-Royce Experiences a Unique Kind of Hell
    Bloomberg

    Rolls-Royce Experiences a Unique Kind of Hell

    (Bloomberg Opinion) -- Few aerospace companies have been left unscarred by Covid-19, but those that were struggling even before the pandemic are experiencing a unique kind of hell.Boeing Co. was already up against it after grounding its 737 Max jets and it’s expected to burn through as much as $16 billion of cash this year. Among suppliers, few were as vulnerable going into the crisis as Rolls-Royce Holdings Plc, the British jet engine manufacturer. It invested billions of pounds in several new engine designs, only to discover that one — the Trent 1000 — isn’t totally reliable. Fixing this will cost 2.4 billion pounds ($3 billion), and now the collapse in air travel has taken its own toll on Rolls-Royce’s finances.On Thursday, a trading update laid bare just how devastating the virus has been for a company whose propulsion systems power 38% of the world’s wide-body passenger jets, including the Boeing 787 and Airbus A380. The group expects to consume about 4 billion pounds of cash this year. Like Boeing, Rolls-Royce’s liabilities now far exceed its balance-sheet assets.Even in normal times the company loses more than 1 million pounds on each large jet engine it sells, and makes most of its commercial aviation revenue from maintenance contracts. When planes are grounded, precious little cash comes in to cover the company’s high fixed costs. The number of hours Rolls-Royce engines were in flight fell by 75% in the second quarter; they’re expected to more than halve this year. With intercontinental flying likely to remain subdued, many of the twin-aisled jets that Rolls-Royce powers will remain underutilized. A strategic decision to focus on the wide-body aircraft market is coming back to haunt the company.  Bloomberg reported last week that Rolls-Royce was considering raising up to 2 billion pounds in equity capital. But, for now, it has announced only a new 2 billion-pound government-guaranteed loan.A large capital increase would heavily dilute shareholders that don’t participate but Rolls-Royce has surely run out of other options, having already scrapped its dividend and announced 9,000 job cuts. The shares have declined by more than 60% this year, valuing the business at just 5.1 billion pounds. At its 2013 peak, Rolls-Royce was worth more than 4 times that.The company still has 4.2 billion pounds of cash and 8.1 billion pounds of total available liquidity, a decent cushion considering the scale of the ongoing cash burn. But its finances are in a worse state than those numbers suggest, something Rolls-Royce’s complex accounting, large working capital swings and invoice-financing arrangements (since discontinued) helped paper over.Rolls-Royce’s net indebtedness could rise to as much as 16.6 billion pounds, according to an estimate from JPMorgan analyst David Perry that preceded Thursday’s trading update. That’s when you include the cash that customers have advanced Rolls-Royce ahead of the maintenance work it must still carry out, as well as its operating leases, provisions for fixing faulty engines and other liabilities.About half of Rolls-Royce’s revenue comes from making power-generation and defense equipment, businesses that haven’t been as badly affected by coronavirus. Power-generation sales fell but defense is holding steady. A group target to achieve 750 million pounds of free cash flow in 2022 gives investors something to cling to. Chief Executive Officer Warren East believes the company has an attractive and independent future.And yet, Rolls-Royce will emerge from this crisis as a smaller group with less cash-flow potential and more debt. As a key military supplier to Britain and one of the country’s last truly world-class manufacturers, the government will be keeping a close eye on its financial health. The state had to rescue the company when it went bust in the early 1970s, and it still holds a so-called “golden share,” allowing it to block a foreign takeover.Investors seem to think more state assistance will be forthcoming if needed.(2) The company’s 550 million euros of senior unsecured 1.625% coupon bonds, which mature in 2028, trade at 90 cents on the euro. That’s not great, but it’s not disastrous either. Standard & Poor’s has already cut the credit rating to junk. If Rolls-Royce does prove too fragile to stand alone, the idea of merging it with BAE Systems Plc could be revived. It’s too important to fail.(1) So far Rolls-Royce has tapped 300 million pounds from the U.K.’s Covid Corporate Financing Facility and now has another 2 billion pound government-guaranteed loan available to it.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Emirates lays off more pilots, crew in latest round of job cuts - sources
    Reuters

    Emirates lays off more pilots, crew in latest round of job cuts - sources

    Emirates laid off more pilots and cabin crew this week in another round of job cuts as the Gulf airline shrinks its workforce due to the coronavirus pandemic, four sources said. The Dubai state-owned carrier is cutting thousands of jobs, including pilots and cabin crew as it manages a cash crunch caused by the pandemic, sources have said. A company spokeswoman on Thursday did not say how many employees had been made redundant in this week's job cuts or from which departments.

  • Rolls Royce Share Price: Rolls Royce Expects Better H2 as it Bolsters Liquidity
    FX Empire

    Rolls Royce Share Price: Rolls Royce Expects Better H2 as it Bolsters Liquidity

    The last two years have not been good ones for the Rolls Royce share price, and CEO Warren East’s strategy plan to turn the business around.

  • Airbus H1 deliveries hit 16-year low despite June bounce
    Reuters

    Airbus H1 deliveries hit 16-year low despite June bounce

    Airbus deliveries rose 50% in June compared with May and reached their highest level since the coronavirus crisis spread to Europe in March, but the accelerating recovery failed to prevent first-half deliveries from sliding to a 16-year low. Figures released by the European planemaker late on Wednesday underscored a collapse in aerospace industry fortunes since early this year, hours after Airbus workers facing job cuts staged their first strike in 12 years. Deliveries rose to 36 aircraft in June from 24 in May and a low of 14 in April.

  • Barrons.com

    What the Boeing Stock Drop Tells Us About Investors’ Focus. (It Isn’t on the 737 MAX.)

    Another customer canceled an order for the 737 MAX jet, raising the question: When will the MAX’s problems matter again for Boeing stock?

  • Airbus first-half deliveries hit 16-year low despite June bounce
    Reuters

    Airbus first-half deliveries hit 16-year low despite June bounce

    Airbus <AIR.PA> deliveries rose 50% in June compared with May and reached their highest level since the coronavirus crisis spread to Europe in March, but the accelerating recovery failed to prevent first-half deliveries from sliding to a 16-year low. Figures released by the European planemaker late on Wednesday underscored a collapse in aerospace industry fortunes since early this year, hours after Airbus workers facing job cuts staged their first strike in 12 years. Deliveries rose to 36 aircraft in June from 24 in May and a low of 14 in April.

  • Airbus workers stage rare protest over job cuts
    Reuters

    Airbus workers stage rare protest over job cuts

    TOULOUSE, France/BERLIN (Reuters) - Thousands of Airbus workers marched alongside an airport runway in France and staged an 'empty chair' protest in Germany on Wednesday to protest against plans to cut up to 15,000 jobs. At Toulouse airport in France, where Airbus is based, some 7,000-9,000 workers walked out of factories and staged a procession on a track near a runway, carrying union-supplied picnic bags and a banner reading "No Compulsory Redundancies". The 1-1/2 hour strike was the first at Airbus since 2008 as the company's usually harmonious labour relations are frayed by the restructuring plan.

  • Barrons.com

    737 MAX Tests Are Set to Continue. They’re the Least of Boeing’s Problems.

    The Wall Street Journal reported the FAA is testing the (BA) 737 MAX again. The Journal news article says the additional tests will assess the safety of Boeing (ticker: BA) software fixes. The 737 MAX—Boeing’s latest model single-aisle jet—has been grounded world-wide since mid-March 2019 following two deadly crashes inside of five months.

  • Boeing to Wind Down 747 Production, a Report Says
    Motley Fool

    Boeing to Wind Down 747 Production, a Report Says

    Boeing (NYSE: BA) reportedly plans to wind down production of its massive 747 jumbo jet, the end of an era for double-decker jets as airlines focus on smaller, more fuel-efficient aircraft. The company has not yet made the decision official, but Bloomberg reported the last 747-8 will roll off Boeing's assembly line in about two years. While the timing of Boeing's decision is new, the fate of the 747 has been obvious for a while.

  • Brazil's Embraer negotiates worker buyouts as rivals downsize
    Reuters

    Brazil's Embraer negotiates worker buyouts as rivals downsize

    The world's No. 3 planemaker Embraer SA <EMBR3.SA> said on Thursday it was negotiating buyouts, signaling likely cuts in its workforce due to the coronavirus pandemic that has hammered the travel industry. Larger rivals Boeing Co <BA.N> and Airbus <AIR.PA> have each announced plans to cut over 10,000 jobs, although the French planemaker is still negotiating due to government pressure. Embraer said it is discussing with some of its unions the possibility of offering buyouts for workers who are currently furloughed.

  • Boeing Quietly Pulls Plug on the 747, Closing Era of Jumbo Jets
    Bloomberg

    Boeing Quietly Pulls Plug on the 747, Closing Era of Jumbo Jets

    (Bloomberg) -- Boeing Co. hasn’t told employees, but the company is pulling the plug on its hulking 747 jumbo jet, ending a half-century run for the twin-aisle pioneer.The last 747-8 will roll out of a Seattle-area factory in about two years, a decision that hasn’t been reported but can be teased out from subtle wording changes in financial statements, people familiar with the matter said.It’s a moment that aviation enthusiasts long have dreaded, signaling the end of the double-decker, four-engine leviathans that shrank the world. Airbus SE is already preparing to build the last A380 jumbo, after the final convoy of fuselage segments rumbled to its Toulouse, France, plant last month.Yet for all their popularity with travelers, the final version of the 747 and Europe’s superjumbo never caught on commercially as airlines turned to twin-engine aircraft for long-range flights. While Boeing’s hump-nosed freighters will live on, the fast-disappearing A380 risks going down as an epic dud.The grand jetliners also face another indignity: The Covid-19 pandemic threatens to leave their manufacturers scrounging to find buyers for the last jumbos built.“As it turned out, the number of routes for which you need an ultralarge aircraft are incredibly few,” said Sash Tusa, an analyst with Agency Partners.Boeing’s “Queen of the Skies” debuted in 1970, an audacious bet that transformed travel but almost bankrupted the company. Passenger versions boasted a spiral staircase to a luxurious upstairs lounge. Freighter models featured a hinged nose that flipped open to load everything from cars to oil-drilling gear. The 747 went on to rack up 1,571 orders over the decades -- second among wide-body jets only to Boeing’s 777.The millennial-era A380 could haul as many as 853 travelers and reflected Europe’s lofty aerospace ambition. But by the time it arrived in 2007, airlines were already tilting to smaller planes that burned less fuel.Boeing correctly anticipated the trend with the twin-engine 777 and the 787 Dreamliner. With prodding from Joe Sutter, a famed engineer who’d led the original 747 program, the planemaker decided to develop a relatively inexpensive upgrade of the four-engine plane to steal sales from the A380.The strategy would have been successful, had the 747-8 not been bedeviled by early mismanagement, blowing its budget and deadlines, said Richard Aboulafia, an analyst with Teal Group.The Chicago-based company has lost about $40 million for each 747 since 2016, when it slowed production to a trickle, making just six jets a year, Jefferies analyst Sheila Kahyaoglu estimated. All told, Boeing has recorded $4.2 billion in accounting charges for the 747-8, which has been kept alive as a freighter. The 747 notched its last order as a passenger jet in 2017 -- for Air Force One.Boeing’s jumbo freighters will continue to ply the skies for decades after production stops, said Aboulafia. But he’s dropped the passenger-only A380 from his forecasts.“It’s going to have the shortest lifespan of any type in history,” Aboulafia predicted. “I’d be shocked if there’s still an A380 in service in 2030.”Airbus disagreed. “We will see the A380 continue flying for many years,” the planemaker said by email.But the coronavirus pandemic is hastening the end of the behemoths as people movers. With travel not expected to fully recover until mid-decade, airlines are culling aging jetliners and four-engine jumbos from fleets to limit spending. About 91% of 747s and 97% of A380s are parked, Credit Suisse estimated last month.Air France, Lufthansa, and Qatar Airways are among carriers weighing whether to ground their A380s permanently or are preparing to do so. Airbus has just nine of the planes still be delivered. All but one of them are tagged for Emirates Airline, the largest A380 operator, which is considering whether to scrap its final five on order.The A380 has cost Airbus about 20 billion euros ($23 billion), breaking even or generating profits for only a three-year stretch starting in 2015, Agency Partners estimated. With just 251 aircraft sold over the program’s life, the planemaker never achieved the efficiency that comes with manufacturing at large scale, Tusa said.Boeing, meanwhile, had been preparing for years to wind down the 747 program, and its sales team has been sounding out customer interest in a potential freighter version of the 777X. If such a model goes forward, it would bolster flagging sales of the largest twin-engine aircraft in the company’s lineup.The telling omen that Boeing had written the iconic 747’s final chapter came in financial filings earlier this year. Gone was any indication that the company would continue to “evaluate the viability” of the program, standard phrasing it had previously used.“At a build rate of half an airplane per month, the 747-8 program has more than two years of production ahead of it in order to fulfill our current customer commitments. We will continue to make the right decisions to keep the production line healthy and meet customer needs,” Boeing said for this story.The planemaker has just 15 unfilled orders for the 747 -- all freighters. A dozen of them are headed to United Parcel Service Inc., and the fate of the rest is unclear, part of a dispute with Russia’s Volga-Dnepr Group.Boeing has approached the U.S. courier and other potential customers about taking the three planes, people familiar with the matter said. The planemaker and UPS declined to comment. Volga-Dnepr didn’t respond to requests for comment.UPS in May agreed to take a 747 that Volga had ordered. “Working with Boeing, we saw an opportunity to bring another 747-8 online this year in time for our peak shipping season,” the courier said.Ultimately, Boeing’s decision on the 747 boiled down to resource allocation, said George Dimitroff, who leads valuations at aviation consultant Cirium. Could the assembly line floor space be better used on another airplane, such as the 767, which shares a bay in Boeing’s Everett, Washington, factory?“If you’re building half an airplane a month, it’s probably not your most profitable program,” Dimitroff said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Unions urge Airbus to slow down restructuring plans
    Reuters

    Unions urge Airbus to slow down restructuring plans

    French unions and regional leaders urged Airbus on Thursday to step back from a Big Bang restructuring as workers across Europe waited for a factory-by-factory breakdown of 15,000 job cuts brought about by the coronavirus pandemic. The battle over the scale and timing of cuts heated up as Air France staff also waited for confirmation of 7,500 expected cuts in French aviation's worst week for decades. Airbus unveiled the cuts on Tuesday, with France and Germany bearing the brunt of the restructuring with around 5,000 cuts each, while Britain is set to lose 1,700 jobs and Spain 900.

  • Barrons.com

    The FAA Is Done Testing Boeing’s 737 MAX. A Video Gives Investors a Look.

    The Federal Aviation Administration outlined what is left to complete before the planes can fly again in commercial service.

  • Spain working with Airbus to keep jobs in wake of restructuring
    Reuters

    Spain working with Airbus to keep jobs in wake of restructuring

    Spain is working with Airbus to find ways for the airplane maker to keep jobs in the country, Prime Minister Pedro Sanchez said on Wednesday, a day after it announced many layoffs as part of a global restructuring. Speaking to reporters after the reopening of Spain's border with Portugal, Sanchez highlighted the country's role in the founding of Airbus and said he hoped to find solutions to retain some jobs. "We are working with Airbus to find joint lines of work to keep jobs in Spain," Sanchez said, without elaborating.

  • Things Are Terrible at Airbus, But at Least It’s Not Boeing
    Bloomberg

    Things Are Terrible at Airbus, But at Least It’s Not Boeing

    (Bloomberg Opinion) -- The ink has barely dried on Airbus SE’s announcement that it will cut 15,000 jobs, or about 11% of the workforce, and the French finance minister is already criticizing the cuts as “excessive.” Pushback from governments and trade unions is inevitable when big industrial companies announce layoffs. That’s especially true at Airbus, which has assembly lines on three continents and counts France, Germany and Spain as anchor shareholders.Redundancies are never pleasant and they’re a particular blow in aerospace because employees are usually highly skilled and well paid. Unite, a British trade union, said the loss of 1,700 Airbus jobs in the U.K. was an act of “industrial vandalism.”  Airbus hasn’t cut this deep before, but the workforce is fortunate not to suffer even more. The impact of Covid-19 on Airbus’s aircraft-making business has been devastating. In 2020 and 2021, it will probably produce 40% fewer planes than planned. The company has no choice but to scale back. With the coronavirus now ripping through the southern U.S. again, any hope that American and transatlantic air travel would swiftly return to normal has been shot down. The aviation recovery will probably be slow and prone to setbacks. Airlines are cutting their staff numbers too — British Airways, for example, by 30% — and some may not survive the crisis.Instead of attacking the passenger jet manufacturer, Europe’s governments should be grateful that Airbus’s finances and order book were in decent shape before Covid-19 appeared. Its problems are mild by comparison with arch-rival Boeing Co., which is reeling from the grounding of the 737 Max. The American company announced 16,000 job cuts in April, and its balance sheet is in a far worse state.Of course, it stings that most of Airbus’s job cuts will be in France and Germany. Both countries have pledged billions of euros of support for the aviation sector.But at least European states haven’t had to directly recapitalize Airbus. At the end of March the manufacturer had 18 billion euros ($20.2 billion) of gross cash, plus a similar volume of available credit lines. It will burn though lots of money this year — in part because airlines either can’t or won’t take delivery of planes — but Airbus will end the year with only “modest” net indebtedness, according to Standard & Poor’s, which rates the company’s debt a pretty respectable A, albeit with a negative outlook.Contrast that with Boeing, which had $9 billion in negative shareholder equity at the end of March, and $39 billion of indebtedness. Boeing avoided a U.S. government bailout only by issuing a further $25 billion of bonds in April. It may consume an astonishing $16 billion of cash this year, according to a consensus of analyst forecasts compiled by Bloomberg, and its debt is rated only one notch above junk.While Airbus’s comparatively solid finances will help it withstand this unprecedented crisis, they shouldn’t be used as a justification for not facing reality. Using government subsidies to furlough employees only makes sense if you think demand will quickly bounce back. But pre-crisis levels of air traffic probably won’t be reached again until 2023, according to Airbus. Even that might be an optimistic assumption. Airbus revenue won’t fully recover until 2024, analysts estimate.The equity markets have certainly taken a dimmer view of Airbus of late, after it scrapped its 2019 dividend. The company was capitalized at almost 110 billion euros as recently as January, when its assembly lines could barely keep up with demand. Now, the market value has shrunk to less than 50 billion euros.Boeing’s shares, by contrast, have gained more than 90% since their March nadir because of hopes that the 737 Max will return to service. Massive stimulus from the Federal Reserve has helped too. Airbus shares have recovered only 28% during that period. Still, an over-inflated American stock market is one thing, the comfort of the European company’s cash pile is quite another.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Airbus hints at compromise as governments fret over job cuts
    Reuters

    Airbus hints at compromise as governments fret over job cuts

    Europe's Airbus left the door open on Wednesday to scaling back its planned 15,000 job cuts in exchange for government-funded labour schemes and research, as its coronavirus restructuring stoked political and union alarm. Europe's largest aerospace group plans to cut 11% of its global workforce, after a 40% slump in its 55 billion euro ($61.8 billion) jet business, sparking anxiety about compulsory redundancies in France, Germany, Spain and Britain. France urged Airbus to make as few forced layoffs as possible, while French and German unions said compulsory cuts at the European planemaker were a "red line".

  • Airbus Plans 15,000 Job Cuts as Virus Hits Demand for Planes
    Bloomberg

    Airbus Plans 15,000 Job Cuts as Virus Hits Demand for Planes

    Jul.01 -- Airbus SE embarked on the most extensive restructuring in its history, setting out plans to cut 15,000 civil-aerospace jobs worldwide as it attempts to steer through the crisis brought on by the coronavirus pandemic. The European manufacturer will eliminate more than 10,000 positions across its main bases in Germany and France, part of an 11% reduction in global headcount, according to a statement on Tuesday. Caroline Connan reports on "Bloomberg Markets: European Open."

  • Coronavirus: Plane-maker Airbus to cut 15,000 jobs
    BBC

    Coronavirus: Plane-maker Airbus to cut 15,000 jobs

    The aerospace firm blames coronavirus for the cuts, warning of 1,700 job losses at its UK plants.

  • MarketWatch

    Airbus to cut workforce in bid to weather its 'gravest crisis'

    Airbus SE said Tuesday it will cut about 15,000 jobs by next summer as it aims to "resize" its workforce and commercial-airplane operations in response to the coronavirus pandemic. "The commercial aircraft business activity has dropped by close to 40% in recent months as the industry faces an unprecedented crisis," the European plane maker said in a statement. Air traffic is not expected to recover to before COVID-19 levels before 2023 and potentially as late as 2025, so Airbus needs to take "additional measures" to reflect the industry's outlook. The largest job cuts will happen in Germany and France, with 5,100 and 5,000 positions eliminated, the company said. Airbus will rely on voluntary departures, early retirements, and long-term part-time arrangements "where appropriate" to achieve the planned workforce reduction and mitigate social impact, it said. "Airbus is facing the gravest crisis this industry has ever experienced," Chief Executive Guillaume Faury said in the statement. "The measures we have taken so far have enabled us to absorb the initial shock of this global pandemic. Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader, adjusting to the overwhelming challenges of our customers." American depositary shares of Airbus were fractionally higher in late trading Tuesday and shares of Boeing Co. fell more than 6%. Aircraft makers have struggled amid the pandemic as travel has slowed to a trickle and airline customers delay or forgo plane orders.

  • ‘We're still at the front end of what's likely to be a multi-year phenomenon’: L3Harris CEO
    Yahoo Finance Video

    ‘We're still at the front end of what's likely to be a multi-year phenomenon’: L3Harris CEO

    Bill Brown, L3Harris CEO, joins The First Trade to discuss his company’s $1 billion contract with the U.S. government and the commercial airline industry as national debt continues to rise.

  • Airbus set to announce thousands of job cuts
    Reuters

    Airbus set to announce thousands of job cuts

    Airbus is set to announce on Tuesday a restructuring involving thousands of job cuts as it deals with the fallout from impact of the coronavirus crisis, union officials said, with some sources predicting some 15,000 jobs are to go. Airbus, which has said it will announce fresh action by the end of July after introducing temporary furloughs, declined to comment. Industry sources have predicted between 14,000 and 20,000 job cuts, though it remains unclear how much will be achieved through early retirements in Airbus's 135,000-strong workforce, heavily populated by veterans of its original A320 development.