Airbus fears loss of €1 billion due to strong euro

Initiatives

The rising value of the euro could cost the European aircraft manufacturer Airbus €1 billion ($1.41 billion), the company’s chief operating officer Fabrice Bregier told a French radio station on Friday. Euro continues its rise, passes $1.41 for new record.

“If the exchange rate reaches $1.45, we will have to raise an additional €1 billion,” Bregier told BFM radio. “As a result we would not be able to invest in new programs.” As he spoke, the European common currency stood at a new record high in New York, at $1.4120. (m&c.com)

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