DLAKF - Airbus' CEO warns on forced job cuts due to decline in travel demand

Guillaume Faury, CEO of Airbus SE (EADSY) warns on forced job cuts due to sharper-than-expected decline in travel leads carriers to push back deliveries of new jets.“It will be very difficult to stick with voluntary departures,” Faury said, reiterating that the company “is potentially at risk” if it doesn’t take the right steps. Faury pointed at 40% decline in the jet maker’s production and deliveries.Europe’s biggest airline will pull 150 jets by mid-decade, 50 more than in its previous plan, leading to more job cuts than the 22,000 already due to go.Ben Smith, CEO of Air France-KLM (AFLYY) also weighed in, warning in an interview with L’Opinion that more cost cuts may be needed after travel demand dropped off at the end of the summer.This industry outlook was followed after Deutsche Lufthansa AG (DLAKF) announcement for cutting more jobs, pulling big jets due to poor travel outlook.Airbus shares declined 47.71% YTD:Airbus A380: Blowback Delays

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Airbus' CEO warns on forced job cuts due to decline in travel demand