EU recovery fund should support aerospace sector: France’s Le Maire

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French Economy and Finance Minister Bruno Le Maire speaks during a presentation of the details for the end of the country’s lockdown imposed to curb the spread of the coronavirus disease (COVID-19), at the Hotel Matignon in Paris, France May 7, 2020. Christophe Archambault/Pool via REUTERS

PARIS (Reuters) – The aerospace industry should be among the sectors that can tap a planned European recovery fund, French Finance Minister Bruno Le Maire said on Tuesday.

France and Germany on Monday proposed a 500 billion euro ($546.4 billion) Recovery Fund that would offer grants to European Union regions and sectors hit hardest

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Airbus furloughs 3,000 French aerospace workers

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FILE PHOTO: An Airbus A320neo aircraft is pictured in Colomiers near Toulouse, France, October 17, 2017. REUTERS/Regis Duvignau

TOULOUSE, France (Reuters) – Airbus (AIR.PA) will furlough some 3,000 French aerospace workers by tapping a government-backed scheme for four weeks starting from Monday, the planemaker said on Friday, in its latest effort to cope with the coronavirus crisis.

The company said the measures would apply to those unable to work because their workstations “cannot be fully secured” in line with health measures imposed during a country-wide lockdown in force since March 17.

Confirming a Reuters report, the company said

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Aerospace suppliers face bailout dilemma over job cuts

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MONTREAL/CHICAGO (Reuters) – Aerospace suppliers are drawing up plans to lay off workers as coronavirus quarantines cripple their cash balances – but bailout conditions and fears of losing critical skilled labor are forcing managements to juggle survival and future growth.

FILE PHOTO: Wings are transported at the Boeing Everett Factory after Boeing announced a temporary suspension of production operations at its Puget Sound area facilities, during the coronavirus disease (COVID-19) outbreak, in Everett, Washington, U.S. March 23, 2020. REUTERS/David Ryder

The coronavirus epidemic, which has surpassed 878,000 known cases globally, has battered aviation as airlines ground planes everywhere, sending ripples

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