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Why Airbus plans to cut jet production? | Market Update

  • May 16, 2020 09:14 PM AEST
  • Team Kalkine

Planemaker Airbus has told senior staff the company must be "resized" in plans to be set out around the end of June and is ready to cut jet production again to tackle any second wave of the coronavirus crisis, people briefed on the matter say. Chief Executive Guillaume Faury told Airbus bosses to "face reality" in a briefing on Thursday on the crisis, which has idled an estimated 14,000 jetliners or two-thirds of the global fleet and left manufacturers and airlines battling to save cash.

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The head of the Australian Banking Association believes the industry is providing a much-needed lifeline for households during the coronavirus pandemic by deferring repayments on their home loans.

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