Boeing seeks federal aid to avoid layoffs in its supply chain network
US PLANE maker Boeing has asked White House and Congressional officials for short-term aid for itself, suppliers and airlines because of the coronavirus outbreak, reports Bloomberg
US PLANE maker Boeing has asked White House and Congressional officials for short-term aid for itself, suppliers and airlines because of the coronavirus outbreak, reports Bloomberg.
People familiar with the matter say Boeing is seeking to avoid layoffs and damage to hundreds of smaller companies that make parts and systems for its aircraft.
Boeing has also been buffeted by the grounding of its best-selling 737 Max, which awaits regulatory clearance to resume flights after two deadly crashes.
Boeing, European rival Airbus SE and a constellation of suppliers are navigating the sharpest industry downturn since at least the 911 terrorist attacks as nations close borders and airlines ground fleets of aircraft. Airbus on Tuesday said it would pause production and assembly at its French and Spanish plants for the next four days to put in place health measures, including cleaning and self-distancing.
'The company will also continue to maximise homeworking wherever possible,' Airbus said in a statement. The move followed a further tightening of containment measures by France to limit the movement of people outside their homes.