Among the charges disclosed by Airbus in its full-year financial results is a €103 million figure relating to efforts to turn around German aerostructures firm Premium Aerotec.

Airbus says the charge relates to a restructuring plan for the Augsburg-based company which is intended to improve the company’s position.

“We want to give them the tools to be competitive,” said Airbus chief Guillaume Faury, speaking during a briefing in Toulouse on 13 February.

He says the company has a “major role” in commercial aviation and that there was a “need” to restructure to become profitable – but stopped short of disclosing the extent of possible job cuts.

Premium Aerotec supplies fuselage sections for the A350, A330 and A320 families. It says it employs around 9,000 personnel across Germany and Romania.

Annual revenues amount to some €2 billion, and Airbus commercial programmes account for over 90% of total sales. But the company was loss-making for 2018 – the last year for which annual figures are available – with a net deficit of €65.7 million.