By Tim Hepher
By Tim Hepher
LONDON, Oct 9 (Reuters) – Airbus AIR.PA Defence and Area has issued an inside warning of great challenges in assembly cashflow and different targets for 2019 because it rolls out an inside effectivity plan referred to as “Momentum”, folks conversant in the matter stated.
It’s the second time in as a few years the group’s second largest division has been pressured to induce its 33,000 employees to avoid wasting extra cash within the last quarter of the yr, a interval when authorities clients are sometimes gradual in finalising funds.
This yr, the squeeze has gained additional urgency as Airbus stays locked in a dispute with Germany over a freeze on arms exports to Saudi Arabia, imposed after the killing of journalist Jamal Kashoggi by Saudi operatives simply over a yr in the past.
Airbus says the moratorium on defence export licences has disrupted an already long-delayed Saudi border programs contract.
Airbus Defence and Area employees have been urged to take…