instagram envelope_alt facebook twitter search youtube_play whatsapp remove external_link loop2 arrow-down2

Airbus ‘set to quit’ UK over Brexit fears

‘Lacking
clarity’:
Airbus’s
Tom
Williams
PICTURE: PA

AEROSPACE giant Airbus is preparing to quit Britain due to fears of a hard Brexit, potentially putting tens of thousands of jobs at risk, it was reported last night.

The European aerospace company, said to generate £1.7billion a year in tax, is set to abandon plans to build aircraft wings at its British plants, according to The Times.

Production will be moved to China, the US or elsewhere in Europe, rather than taking place here as was previously hoped. Airbus, which has factories in Bristol, Portsmouth, Stevenage and Broughton in north Wales, employs 14,000 people in the UK while a further 110,000 jobs are supported by its supply chain.

Chief operating officer Tom Williams told the newspaper: ‘In the absence of any clarity, we have to assume the worst-case scenario.

‘It is the dawning realisation that we now have to get on with it.’

An internal risk assessment reportedly suggested reconsidering ‘footprint in the country, investments in the UK and dependency on the UK’ should Britain leave the EU on a ‘no-deal’ basis. The company is thought to be concerned necessary EU safety certifications could be put in doubt.

‘The extremely negative outcome for Airbus would be catastrophic,’ its assessment adds.

Business bites

Hair royal highness: Harry with Meghan

Prince hairy! big growth spurt for BRITISH beards

BRITISH men have splashed out nearly £5million on beard care in the past year as the trend for Prince Harry-style facial hair grows. Sales of products such as beard oils rose 226 per cent in the past three years. But disposable razor sales fell nine per cent, found market analysts IRI.

Dixons profits fall in wake of cyber attack

PRE-TAX profits at Dixons Carphone fell by 24 per cent to £382million for the year to April 28. Chief executive Alex Baldock said the company had ‘plenty of work to do’ in the wake of a recent cyber attack.

Borrowing boost for chancellor

CHANCELLOR Philip Hammond has had a boost after government borrowing was £5billion last month, down £2billion year-on-year. The Office for National Statistics also revised down its figure for the year to the end of March to £39.5billion, the lowest since 2005.