| Author (Corporate) | Airbus |
|---|---|
| Publisher | Airbus |
| Series Title | Press Release |
| Series Details | 21.06.18 |
| Publication Date | 22/06/2018 |
| Content Type | News, Report |
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The European aircraft maker Airbus published on the 21 June 2018 a risk assessment outlining the urgent risks to its business arising from the United Kingdom exiting the European Union without a withdrawal agreement. It stated that the UK exiting the EU in 2019 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 made clear that while an orderly Brexit with a withdrawal agreement was preferable to a no-deal scenario, the current planned transition (which ended in December 2020) was 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, Airbus’ chief operating officer, said on the BBC on the 22 June 2018: 'We have become increasingly frustrated with the lack of clarity and obviously now time is running out'. The United Kingdom was a founding nation of the Airbus consortium and one of the company’s four home markets, along with France, Germany and Spain. Every wing on Airbus commercial aircraft was designed and manufactured in the UK. The wider concerns of UK business Following the input from Airbus into the Brexit discussions other representatives of large UK businesses made related comments, notably leaders from car maker BMW and Siemens UK. The Society of Motor Manufacturers and Traders (SMMT) expressed similar concerns in its 2018 Sustainability Report published on the 26 June 2018. |
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| Source Link | Link to Main Source https://www.airbus.com/newsroom/press-releases/en/2018/06/airbus-provides-update-on-impact-of-brexit-no-deal-deal-scenario.html |
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| Subject Categories | Business and Industry, Culture, Education and Research |
| Countries / Regions | Europe, France, Germany, Spain, United Kingdom, Wales |
