Airbus seeks 15b euros credit, cancels dividendBusiness | 23 Mar 2020 4:30 pm
Airbus is canceling planned dividend payments and lining up 15 billion euros in new credit to give the European aircraft giant more cash to weather the coronavirus crisis.
Airbus said that withdrawing the proposed 2019 dividend payment of 1.8 euros per share will save the company 1.4 billion euros.
The approval from Airbus' directors for 15 billion euros in new borrowing is on top of an existing 3 billion euro revolving credit facility.
Airbus said that it "has significant liquidity available to cope with additional cash requirements related to the coronavirus,'' and that the firm "intends to secure business continuity for itself even in a protracted crisis.''