Company announces measures to bolster liquidity in response to pandemic
The majority of Airbus sites in Spain have joined forces to produce 3D-printed visor frames, providing healthcare personnel with individual protection equipment in the fight against Covid-19.
More than twenty 3D-printers are working day and night. Hundreds of visors have already been produced and dispatched to hospitals close to the Airbus facilities in Spain. Airbus leverages a patented design to manufacture the visor frames, using PLA plastics.
“We have the capability for advanced design and quick manufacture. Overnight, we have gone from making aerospace concepts to medical equipment,” remarked Alvaro Jara, Head of Airbus Protospace, in Getafe, Madrid.
Despite the pause of the majority of production at Airbus’ sites in Spain following the Royal Decree of 29 March, Airbus employees are allowed on site to continue with this essential activity.
In addition, Airbus in Germany also joined the project. The Airbus Protospace Germany and the Airbus Composite Technology Centre (CTC) in Stade, together with the 3D-printing network named ‘Mobility goes Additive’, are now supporting this project in Spain, also coordinating the collection and transport of visors to the Madrid region.
Balance Sheet
Meanwhile, Airbus announced measures to bolster its liquidity and balance sheet in response to the COVID-19 pandemic as it continues to assess the ongoing situation and the impact on its business, customers, suppliers and the industry as a whole.
“Our first priority is protecting people while supporting efforts globally to curb the spread of the coronavirus. We are committed to securing the liquidity of the Company at all times through a prudent balance sheet policy. I am convinced that Airbus and the broader aerospace sector will overcome this critical period,” affirmed Guillaume Faury, CEO, Airbus.
Reflecting the Company’s prudent balance sheet policy and to ensure financial flexibility, Airbus’ management has received approval from the Board of Directors to secure a new credit facility amounting to € 15 billion in addition to the existing € 3 billion revolving credit facility.
