Aerospace in crisis: Safran boss warns of job cuts, need for bailout
18 May 2020 |
9:00 am
The CEO of French aerospace giant Safran has warned of major job cuts in the coming months, and the need for a bailout of the aerospace industry because of the plunge in travel during the coronavirus crisis. Some 45 percent of the company's revenue is earned directly from airlines. Philippe Petitcolin told FRANCE 24: "This business… has totally disappeared over the last two months." He warned of significant job cuts to come at the company, which employs around 95,000 people globally.
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18 May 2020
The CEO of French aerospace giant Safran has warned of major job cuts in the coming months, and the need for a bailout of the aerospace industry because of the plunge in travel during the coronavirus crisis. Some 45 percent of the company's revenue is earned directly from airlines. Philippe Petitcolin told FRANCE 24: "This business… has totally disappeared over the last two months." He warned of significant job cuts to come at the company, which employs around 95,000 people globally.
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