Airbus Defence and Space Division Asked to Save Cash to Meet Targets, Sources Say --Reuters

Date : 10/09/2019 @ 8:00PM
Source : Dow Jones News
Stock : Airbus Se (PC) (EADSY)
Quote : 33.93  -0.1 (-0.29%) @ 3:50PM
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Airbus Defence and Space Division Asked to Save Cash to Meet Targets, Sources Say --Reuters

Airbus SE (USOTC:EADSY)
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--The Defence and Space group of Airbus SE (EADSY) is being asked to save money in the final quarter of the year, in order to meet targets, Reuters reports Wednesday, citing "people familiar with the matter."

--The request comes as Airbus rolls out "Momentum," a new internal efficiency program, the report said.

--Governments are sometimes slow in finalizing payments during the year's last quarter, the report said.

--An Airbus spokesman said the company is carrying out a new efficiency plan. "In early fall, as is rather customary, management has reminded the teams inside Airbus Defence and Space that we have to work hard in order to meet our targets by year-end," the spokesman said.

 

Full story: www.reuters.com/article/us-airbus-cash-exclusive/exclusive-airbus-defense-unit-sees-cash-challenge-adopts-efficiency-plan-idUSKBN1WO0PZ

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

October 09, 2019 14:45 ET (18:45 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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