Aerospace, Macron presents a 10 billion rescue plan

After the car, France is preparing to save the aerospace industry. President Emmanuel Macron is expected to unveil a 10 billion euro plan on Tuesday, the financial newspaper said Les Echos. In the package there are not only guaranteed loans but also urgent measures to contain layoffs, resources to finance the innovation and modernization of the supply chain and the creation of an investment fund (there is talk of a billion) to support suppliers in the sector , but also to be used to protect French small and medium-sized enterprises, weakened by the crisis, from foreign takeovers, in particular from China.

The 4 champions of the French aerospace should participate in the fund: Airbus, Safran, Dassault and Thales. There would be around 30,000 jobs at risk this summer, out of a total of 195,000 in the entire sector. Of these, more than 47 thousand depend on Airbus, the aircraft manufacturer, of which the French (11%), German (10.9%) and Spanish (4.13%) states are shareholders. Like US rival Boeing, Airbus has also been hit hard by the collapse of orders since the flights have stopped due to the pandemic.

But President Macron’s plan could also have repercussions in Italy, where the Italian-French company Thales Alenia Space is based, the largest satellite manufacturer in Europe, specialized in the aerospace, space, defense, security, transport sectors and born from the joint venture with Leonardo.