Airbus has announced measures to bolster its liquidity and balance sheet in response to the COVID-19 pandemic as it continues to assess the ongoing situation and the impact on its business, customers, suppliers and the industry as a whole.
“Our first priority is protecting people while supporting efforts globally to curb the spread of the coronavirus. We are also safeguarding our business to protect the future of Airbus and to ensure we can return to efficient operations once the situation recovers,” said Guillaume Faury, chief executive officer of Airbus.
“We have withdrawn our 2020 guidance due to the volatility of the situation. At the same time, we are committed to securing the liquidity of the company at all times through a prudent balance sheet policy. I am convinced that Airbus and the broader aerospace sector will overcome this critical period,” he added.
By maintaining production, managing its resilient backlog, supporting its customers and securing financial flexibility for its operations, the company intends to secure business continuity for itself even in a protracted crisis, a company statement said.