An Airbus A330-900 plane model is displayed at an expo in Beijing on Wednesday. Agence France-Presse
European planemaker Airbus on Friday made what it described as a final step aimed at halting a transatlantic trade war over billions of dollars of aircraft subsidies.
Battered by the coronavirus pandemic, Airbus announced last month that it must eliminate 15,000 jobs, or more than 10% of its global workforce, to safeguard its future and warned of more thin years ahead.
The planemaker also said it hoped to avoid consuming cash before M&A and customer financing in the second half of the year after a quarterly outflow of 4.4 billion euros as deliveries tumbled due to the coronavirus collapse in air travel.
Airbus is stopping production and assembly activities at its plants in France and Spain for the next four days as governments there implement new measures to restrict movements and fight the coronavirus outbreak, the planemaker said on Tuesday.
The firm is seeking a 25 per cent stake in the ammonia unit of India's AM Green, a new platform wholly owned by the two founders of Greenko, Anil Chalamalasetty and Mahesh Kolli.
Russia plans to increase budget spending by 25.8% to 36.6 trillion roubles ($383 billion) in 2024, Prime Minister Mikhail Mishustin said on Friday,
The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by 28 per cent in 2022, reaching Dhs 137.51 billion, compared to Dhs107.41 billion in 2018.