Aviation giant Airbus has threatened that it could leave the United Kingdom if the country exits the European Union (EU) without a transition agreement.
In a risk assessment report published on Thursday, the European plane-maker warned that London’s departure from the EU’s single market and customs union immediately and without a transition deal would lead to “severe disruption and interruption of UK production,” saying that “this scenario would force Airbus to reconsider its investments in the UK, and its long-term footprint in the country.”
Airbus also warned that a no-deal Brexit could have “catastrophic consequences” for its production plans and put thousands of British jobs at risk.
“This is a dawning reality for Airbus…Put simply, a No Deal scenario directly threatens Airbus’ future in the UK. Therefore, immediate mitigation measures would need to be accelerated,” Tom Williams, chief operating officer of Airbus’s…