Airbus stocks sink as it halts operations in Spain, France

Tuesday, 17. March 2020 11:54

Shares of Airbus SE were down over 3% on Tuesday after the airplane maker announced closure of its factories in France and Spain for the next four days, amid concerns over the coronavirus epidemic and following the guidance from the World Health Organization and national health authorities.

A statement from the company said: "This will allow sufficient time to implement stringent health and safety conditions in terms of hygiene, cleaning and self-distancing, while improving the efficiency of operations under the new working conditions," Airbus said in a statement.

It added that it's "working together with its customers and suppliers to minimize the impact of this decision on their operations."

At 11:31 am CET, shares were down 3.45%, shortly after hitting the lowest level since November 2016.

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Breaking the News / NI