Airbus and Ford are concerned about a no-deal Brexit

Airbus CEO Tom Enders published a video on Thursday, stating a no-deal Brexit would affect their future investments.

Ford also expressed its concerns, saying a no-deal Brexit would cause $800m for the company in 2019.

A spokesperson from Ford stated that the main reasons for these concerns are the possible costs of new tariffs and depreciation of pound.

Each company has approximately 14.000 employees in the UK.

Other companies in the UK are also concerned about the uncertainty.

Sony stated on Wednesday that it would carry its legal base in Europe from London to Amsterdam.

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Airbus, has previously warned it would be forced to reconsider its investment in Britain in the event of withdrawal without an agreement.

The company directly employs 14,000 people in the UK.

The UK head of Airbus Katherine Bennett stated “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.”

Paul Everitt, the chief executive of the aerospace and defence trade body ADS, said Airbus was not the only firm to have frozen investment in the UK due to uncertainty about the future EU relationship.

The chief executive of the Association of the British Pharmaceutical Industry (ABPI) Mike Thompson said that the drugmakers were working with the government on how to secure the supply of ingredients from abroad.

The Society of Motor Manufacturers and Traders (SMMT), the trade body for a sector that supports 800,000 jobs, also backed the prime minister.

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Austria’s defense ministry claimed that Eurofighter consortium misled decision-makers about the purchase price, deliverability and equipment of the plane to cover money that was illegally paid to politicians, civil servants and others.

Enders was head of the defense division, when the contract was signed.

Source: Euronews

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.