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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

(DATA)
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GlobalData : Airbus to minimise exposure to COVID-19 disruptions by outsourcing production of A320neo components, says GlobalData

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06/29/2020 | 10:46am EDT

Following the news that Airbus is scrapping plans to produce A320neo nacelles and engines in house;

Nicolas Jouan, Aerospace and Defense Analyst at GlobalData, a leading data and analytics company, offers his view on Airbus' situation:

"The news that Airbus was giving up on its plans to take over the production of A320neo nacelles and engines from Raytheon Technologies was understandably criticized by French unions whose workforce has already been affected by furloughs and reduction of working hours. More furlough schemes have been announced as recently as last week by Airbus, with the decision to extend current staff reduction programs to 5,300 workers in Spain and the UK, all of them working on commercial platforms such as the A320neo. The plan to take over nacelles' production from Raytheon Technologies will be abandoned and replaced by a contract extension with the American company, reinforcing offshore outsourcing.

"This move is linked to severe COVID-19 disruptions currently affecting commercial aerospace. To face falling demand for new jetliners, Airbus already reduced production rates of its main commercial platforms by 40% overall for two year, including the A320neo whose sales have stalled at 47 net orders in 2020 so far according to Airbus' figures.

"Much uncertainty still surround the potential recovery of commercial aviation, but it is now clear that Airbus' pre-crisis output at around 60 A320neo per month is far too high to be sustainable in the medium term. Taking over the production of nacelles and engines would therefore expose Airbus to a far more rigid supply chain as actual demand will remain uncertain for the next few years, offsetting any potential saving on maintenance costs."

ENDS

For more information

Analysts available for comment, please contact the GlobalData Press Office:

EMEA & Americas: +44 (0)207 832 4399

Asia-Pacific: +91 40 6616 6809

Email: pr@globaldata.com

For expert analysis on developments in your industry, please connect with us on:

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About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
GLOBALDATA PLC 0.00% 1425 Delayed Quote.10.47%
RAYTHEON TECHNOLOGIES CORPORATION 0.29% 61.79 Delayed Quote.-30.05%
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Sales 2020 186 M 233 M 233 M
Net income 2020 23,0 M 28,7 M 28,7 M
Net Debt 2020 35,1 M 43,8 M 43,8 M
P/E ratio 2020 79,2x
Yield 2020 1,19%
Capitalization 1 681 M 2 096 M 2 099 M
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EV / Sales 2020 9,21x
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