Airbus defends sale of Premium Aerotech in Germany

Augsburg (DPA)

European aviation group Airbus has defended the possible sale of its premium aerotech company.
In statements to the German newspaper Augsburger Allgemeine issued on Saturday, Airbus’ operating director Michael Schulholm said of Premium Aerotech, which is headquartered in the southern German city of Augsburg, that “the company has been incurring losses for 12 years, and these losses amount to billions.”
Schulholm explained that the situation was exacerbated by the fact that airlines do not buy new planes at the moment, “and we will not be able to bear these losses, given the large investments that we have to make, for example in the field of hydrogen technology, and we will not be able to continue like this in Augsburg and elsewhere For Premium Aerotech.
It is noteworthy that Airbus is currently considering selling a center for the production of some aircraft parts in Germany to an investor. About 2,200 out of 2,800 workers at Premium Aerotech work in this center in Augsburg. The sales plans will also include the company’s headquarters in Varel, northwestern Germany.
The Workers’ Council and the Metal Workers’ Union (IG Metal) object to these plans, and the union fears that Airbus will resort in the long run to transferring the production of some parts to countries where wages are low under the outsourcing system, and it also fears the reduction of workers’ salaries.
Schulholm expressed his belief that the optimal situation for the sale could be achieved if the investor was related to the auto industry, and said that in this case the investor could increase production, make the prices of the produced parts cheaper, and enhance the competitiveness of the company’s business, noting that this investor could be Medium company from Germany.
There was talk about the possibility of buying the company by an investor who owns factories in Romania and Vietnam.