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Airbus warns of no-deal Brexit, says has spent tens of millions preparing

Published 17/02/2019, 17:33
Updated 17/02/2019, 17:33
© Reuters. Airbus' new BelugaXL super-transporter aircraft arrives for the first time at the company's wing assembly plant at Broughton, near Chester

LONDON (Reuters) - Airbus said on Sunday it would have to make "difficult decisions" about future investment if Britain crashes out of the European Union without a deal, adding it had already spent tens of millions of euros in preparations.

"There is no such thing as a managed 'no deal', it's absolutely catastrophic for us," senior vice president Katherine Bennett told the BBC's Andrew Marr.

"Some difficult decisions will have to made if there's no-deal (...) we will have to look at future investments."

© Reuters. Airbus' new BelugaXL super-transporter aircraft arrives for the first time at the company's wing assembly plant at Broughton, near Chester

She said Airbus had already spent "tens of million of euros" on preparing for Brexit, for example on stockpiling parts and securing IT systems.

Latest comments

Easier to blame Brexit than face the reality of the A380 having been a commercial flop. Airbus lost money on every single A380 built, and despite knowing this in advance they still went ahead with it. Short sighted, greedy management, not Brexit.
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