Airbus deliveries slump; Rolls-Royce bleeds cash
Airbus workers are protesting against the planemaker’s plan to cut 15,000 jobs.
On Wednesday (July 9) unions have called for a day of action.
That a day after they marched near company headquarters in Toulouse, southern France.
The planned cuts are excessive, says one union official, and Airbus needs to show more responsibility as a partially state-owned company.
But new numbers on the state of the industry may only add to the firm’s determination.
Airbus delivered just 196 airliners in the first half of 2020.
That’s down by a half on last year, and marks a 16-year low.
The aerospace giant expects an average 40% drop in business over the next two years.
It’s a similar story over at Rolls-Royce, which makes engines for Airbus and Boeing.
On Wednesday it said it had burned through 3.8 billion dollars of cash in the first half.
That as engine deliveries slump and existing planes do less flying.
The firm expects some upturn in the second half, with the cash burn at least slowing.
But it’s pressing ahead with plans to cut 9,000 jobs as a result of the slowdown.
It could be a long, angry summer for anyone in the business of building jets.
