Coronavirus infections, travel restrictions making aviation outlook worse than expected: Airbus executive
Airline furloughs leads to massive air travel drop
The expired $25 billion stimulus package is causing airlines to furlough workers and cut flights. FOX Business’ Kristina Partsinevelos with more.
The outlook for the aviation industry has deteriorated again due to rising coronavirus infections and renewed travel restrictions, Airbus chief operating officer Michael Schoellhorn was quoted as saying on Saturday.
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With air travel at a fraction of normal levels due to restrictions and travelers’ fears related to the pandemic, airlines have slowed deliveries of new aircraft.
Airbus has said it needs to shed 15,000 posts worldwide.
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In an interview with the Handelsblatt business daily, Schoellhorn said the situation in early autumn was worse than the company had expected in the summer, adding that the planned 15,000 job cuts would be the minimum.