Says Lack Of Agreement On Trade Relations Is A Deal Breaker

If Britain leaves the European Union without a trade agreement with the remaining member states, Airbus says it will "reconsider its long-term footprint in the country."

The Associated Press reports that Airbus employs about 14,000 people at 25 sites around the U.K. The company said in a statement said it needs to know by the end of the summer what rules will govern its operations to remain in Britain.

While Airbus understands that the political process must go on, as a responsible business we require immediate details on the pragmatic steps that should be taken to operate competitively," Tom Williams, CEO of Airbus Commercial Aircraft, said in a statement. "This is a dawning reality for Airbus. Put simply, a no-deal scenario directly threatens Airbus' future in the U.K."

Airbus is the largest commercial aerospace company in the U.K., according to the report. Its financial impact is estimated to be some $6.6 billion.

The government of British Prime Minister Theresa May reacted quickly to the threat, saying there in confidence in getting a good deal, and "we do not expect a no-deal scenario to arise."

(Image from file)

Source: Original report