PRESS STATEMENT Profit Plunge at Airbus: We Expect Full Transparency and Open Discussions

Jürgen Kerner, Second Chairman of IG Metall:
"The write-downs of nearly one billion euros in the satellite business reported by Airbus raise many questions. How did this happen? Where exactly did the losses come from? Why weren’t the negative trends identified early on?

IG Metall expects Airbus to act with a sense of proportion when implementing countermeasures, in addition to ensuring full transparency and open dialogue with employee representatives. Making across-the-board cuts now and undermining future programs through excessive cost-cutting—or even risking a loss of expertise through job cuts—could have significantly more negative consequences for Airbus in the medium term. IG Metall stands with the employees at all aerospace sites.

Space is also a highly politically sensitive issue. The new German space strategy was adopted less than a year ago, at the end of September 2023. According to the strategy, space-based infrastructure is increasingly viewed as part of critical infrastructure. Germany and Europe need their own capabilities in relevant areas that affect sovereignty—such as the ability to launch satellites into space—as stated in the space strategy. Airbus CEO Guillaume Faury would be well advised to seek a meeting with the federal government as soon as possible. The government certainly has clear expectations of him. IG Metall will definitely discuss the state of the space industry in Germany with the government.”

Further information and press photos by Jürgen Kerner