As we posted, Alabama is taking a big hit from the financial impact on Aviation, with Airbus cutting production by some 30%---though it is not known how hard the Mobile plant will be hit.
Airbus today reporting a net loss of $520-Million in the first quarter of 2020.
Meanwhile rival Boeing isn't in any better shape...and some 2700 people work for Boeing in Alabama.
The company CEO told Forbes today the pandemic is “delivering a body blow to our business.”
And recovery will be slow:
"It will take two to three years for travel to return to 2019 levels, he said, and a few years beyond that for the aviation industry to return to its long-term growth trends, which have fundamentals that he insisted remain intact."
Tighten your belts.
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