The outlook for the aviation industry has deteriorated due to a splash in the coronavirus cases and renewed travel restrictions, Airbus Chief Operating Officer Michael Schoellhorn said.
He pinpointed that the situation in early autumn was worse than the company had expected in the summer. Mr. Schoellhorn does not rule out mass layoffs at Airbus. According to preliminary estimates, about 15,000 jobs may be cut.
Analysts assume that the COVID-19 pandemic was a catalyst for the decline in the aviation industry. Importantly, as some Airbus factories were already underutilized before the pandemic, labor unions feared that the company could shut down lots of locations. Schoellhorn added that the company would not close its factories in Germany. "In terms of substance, I do not see any German locations at risk at the moment," he said.
