European aircraft manufacturer Airbus plans to restrict employee business travel to reduce expenses, sources told Bloomberg. This move is part of a broader cost-saving initiative.
While necessary trips for sales representatives to visit clients will continue, other travel expenses will be scrutinised. Additionally, Airbus aims to cut costs related to certain events.
The head of Airbus’ commercial aircraft division recently presented a company-wide cost-saving plan. Individual departments are now developing their own strategies to reduce spending.
Airbus is ramping up production due to strong demand for new aircraft, but faces challenges such as parts shortages, which impact profitability.
Airbus recently lowered its profit forecast for this year. Quarterly financial results will be released on Tuesday.
