Airbus warns pulling out of UK if no-deal Brexit

posted on 22nd June 2018 by yumna
Airbus warns pulling out of UK if no-deal Brexit

Airbus has stated it is “reconsidering its investments in the UK” following Brexit and warns it will pull out of the UK if there is no-deal situation when the country leaves the European Union.

During a conversation with the BBC’s Today programme, Tom Williams, Chief Operating Officer of Airbus Commercial Aircraft said that “in any circumstances” Brexit will have a severe effect on the UK aerospace industry.

The company has been analysing the risk posed by Brexit to the company and industry at large for a while. It previously said it is reconsidering its investments in the UK following the decision to leave the EU.

Airbus have said that if the UK leaves the EU single market and customs union with no transition deal agreed, it will pull out of the UK on a whole, threatening thousands of jobs.

The UK is vastly important for the airplane manufacturer and the nation’s economy is equally dependent on its ability to produce parts. All wings for the A320, A330, A350, A380 family of aircraft are made in the UK. The company also has around 4,000 suppliers in the UK.

Airbus currently employs around 25,000 people in 25 different locations in the country.