May 14, 2020 / 2:35 PM / 22 days ago

Airbus must be 'resized' to tackle crisis, bosses told - sources

The logo of Airbus is pictured at the entrance of the Airbus facility in Bouguenais, near Nantes, France April 27, 2020. REUTERS/Stephane Mahe/Files

PARIS (Reuters) - Planemaker Airbus (AIR.PA) has told top staff that the company must be “resized” in plans to be set out by around end-June and is ready to cut jet production again to tackle any second wave of the coronavirus crisis, people briefed on the matter said.

Chief Executive Guillaume Faury told Airbus bosses to “face reality” in a briefing on the crisis, which has left an estimated 14,000 aircraft or two thirds of the global airliner fleet idle and manufacturers and airlines battling to save cash.

Faury once again warned that Airbus may not survive without change and insisted that “radical,” “proactive” and urgent steps were needed, according to people briefed on the presentation.

An Airbus spokesman said “no decision has been made about next steps” and added it was too early to speculate on jobs.

Reporting by Tim Hepher;Editing by Elaine Hardcastle

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