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Title : Major Manufacturers Issue Warning Over Brexit Uncertainty
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Major Manufacturers Issue Warning Over Brexit Uncertainty

Airbus Provides Update on Impact of Brexit No Deal/Deal Scenarios

(Source: Airbus; issued June 21, 2018)

TOULOUSE, France --- Airbus has today published a risk assessment outlining the urgent risks to its business arising from the UK exiting the European Union without a withdrawal agreement.

It states that the UK exiting the EU next year without a deal – therefore leaving both the single market and customs union immediately and without any agreed transition – would lead to severe disruption and interruption of UK production. This scenario would force Airbus to reconsider its investments in the UK, and its long-term footprint in the country, severely undermining UK efforts to keep a competitive and innovative aerospace industry, developing high value jobs and competences.

On the future trade relationship between the UK and EU, the Memorandum makes clear that while an orderly Brexit with a withdrawal agreement is preferable to a no-deal scenario, the current planned transition (which ends in December 2020) is too short for the EU and UK Governments to agree the outstanding issues, and too short for Airbus to implement the required changes with its extensive supply chain. In this scenario, Airbus would carefully monitor any new investments in the UK and refrain from extending the UK suppliers/partners base.

Tom Williams, Chief Operating Officer of Airbus Commercial Aircraft, commented: ““In any scenario, Brexit has severe negative consequences for the UK aerospace industry and Airbus in particular. Therefore, immediate mitigation measures would need to be accelerated. While Airbus understands that the political process must go on, as a responsible business we require immediate details on the pragmatic steps that should be taken to operate competitively.

“Without these, Airbus believes that the impacts on our UK operations could be significant. We have sought to highlight our concerns over the past 12 months, without success. Far from Project Fear, this is a dawning reality for Airbus. Put simply, a No Deal scenario directly threatens Airbus’ future in the UK.”

To read the Risk Assessment Memorandum in full, please click here:

Airbus is a global leader in aeronautics, space and related services. In 2017 it generated revenues of € 59 billion restated for IFRS 15 and employed a workforce of around 129,000. Airbus offers the most comprehensive range of passenger airliners from 100 to more than 600 seats. Airbus is also a European leader providing tanker, combat, transport and mission aircraft, as well as one of the world’s leading space companies. In helicopters, Airbus provides the most efficient civil and military

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rotorcraft solutions worldwide.

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Major Manufacturers Issue Warning Over Brexit Uncertainty

(Source: Press Association; published Jun 22, 2018)

Major manufacturers employing more than 20,000 people in the UK have spoken out about the potential impact of Brexit on key British industries.

A warning by Airbus that it could pull out of the UK with the loss of thousands of jobs if Britain crashes out of the EU without a deal is “no idle threat”, the aerospace giant has stressed.

And BMW said uncertainty over Brexit could damage the competitiveness of the UK’s automotive industry.

Airbus sent shockwaves throughout British industry and the Government when it said it would “reconsider its investments in the UK, and its long-term footprint in the country” if Britain was forced to leave the single market and customs union in March 2019 without any transition agreement in place.

Katherine Bennett, Airbus’s senior vice president in the UK, told the Press Association: “We don’t deal in idle threats. We seriously believe a no-deal Brexit would be catastrophic.”

She said the Government had been made well aware of the company’s views during “extensive and frank” discussions.

But security minister Ben Wallace hit back, saying the firm had relied on countries such as the UK to cover the costs of the A400M military transport plane.

When I last checked if it wasn’t for the customer countries of the A400m , Airbus would have not been able to cover the over budget and delays. Aerospace manufacturers need customers. Perhaps they might reflect on that

— Ben Wallace MP (@BWallaceMP) June 22, 2018

“Aerospace manufacturers need customers,” he said. “Perhaps they might reflect on that.”

Ministers have been told that the impact of exiting the EU without any sort of trade deal would be “devastating” for the aerospace industry.

Airbus has more than 4,000 suppliers, and its warning applies to other sectors such as automotive. (end of excerpt)

Click here for the full story, on the Shropshire Star website.

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