Brexit deal: Airbus could go ahead with stalled UK investments if withdrawal agreement is passed

Aviation giant 'would consider continuing to invest as it has done over many years', says company's UK boss

Wednesday 28 November 2018 13:41
Comments
Katherine Bennett described the agreement as a 'welcome first step'
Katherine Bennett described the agreement as a 'welcome first step'

The UK boss of European plane manufacturer Airbus has said its investments in the UK could be unlocked if Theresa May's deal with Brussels is passed.

Katherine Bennett told the Commons Business, Energy and Industrial Strategy Committee that the company has been in a “holding pattern” with “nothing new” invested in the UK over the past year.

Asked if this strategy is likely to continue during a transition period following the UK's withdrawal from the EU, Ms Bennett replied: “What we said was that if there is a chaotic Brexit or no deal, that is why our investments were put on hold.

“If the withdrawal agreement is successful in some form or another, then Airbus would consider continuing to invest as the company has done over many years.

“We have great capability ... but obviously because of the uncertainty, which we want to see reversed, that is why investments have been put on hold.”

Ms Bennett described the agreement as a “welcome first step” amid Airbus's concerns about uncertainty and a lack of clarity.

She said there are “a lot of benefits in the agreement” but noted that “some of the customs issues etc are quite complicated”.

Paul Everitt, chief executive of ADS Group, which represents the UK aerospace, defence and space sectors, told the committee the withdrawal agreement “definitely doesn't take us back to business as usual”.

He continued: “For us it's not as good as it is today and it won't ever be as good as it is today.

“But it is an awful lot better than the chaos that we would see leaving the EU without a deal.”

PA

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in