Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Stay Pausing Investments
Airbus SE is one of the largest aircraft manufacturers in the world.
Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Stay Pausing InvestmentsAirbus continued titanium purchases. In December 1 of 2022, Airbus made announcement about its intention to decouple its supply chain from Russian titanium in a "matter of months". It is not clear how many months Airbus has in mind, but as of the end of February (the last available data points), exports continued. Canada has granted Airbus a waiver to allow it to use Russian titanium in its manufacturing after becoming the first Western government to ban supplies of the strategic metal in its latest package of measures triggered by the war in Ukraine. The move gives Airbus flexibility in its Canadian plants and is expected to allay concerns that its core operations could be hit by effectively banning the import to Canada of its European-built jets that rely most heavily on lightweight titanium. Airbus ACJ private jet worth $110m bypasses EU sanctions and ended up in Russia.
Suspend supply of parts and deliveries/servicing, but continue substantial titanium purchases from Russia. Airbus Chief Executive Officer Guillaume Faury said on Feb. 16 that company data show Russian airlines flew his company’s jets more in the second half of 2022 than they did before the pandemic. Although Faury added that the company isn’t in contact with airlines in Russia, Airbus is starting to hear about difficulties keeping planes flying as they struggle to replace missing components. Between the start of the war and March 2023, Airbus imported at least $22.8 million worth of titanium from Russia; a fourfold increase in value and tonnes compared to the previous 13 months. Court accepts bankruptcy request for Airbus ex-Russia branch. French President Emmanuel Macron personally intervened to persuade Canadian Prime Minister Justin Trudeau to give Airbus and other aerospace firms relief from sanctions on Russian titanium.