Airbus has raised liquidity, slashed production and put factory workers on rolling furloughs since the coronavirus spread across the globe earlier this year. The Toulouse, France-based company has yet to put in place a plan for permanent job cuts.
The company expects to give more detailed guidance to employees by the end of July, Mr Faury said in the letter, reported earlier by La Tribune.France and Germany are Airbus's biggest shareholders, and political pressure in those two countries - along with the potential for labour unrest - will factor into Airbus's decisions.
Airbus has also taken advantage of government-subsidised furlough programmes across Europe, buying time with temporary measures that were recently extended in the UK and Spain. The significance of the drop underscores the additional challenge, of keeping Airbus's supplier network healthy for the downturn.
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