World News

Boeing CEO sees lasting impact of coronavirus pandemic on aerospace industry: memo

(Reuters) – Boeing Co <BA.N> Chief Executive Dave Calhoun said on Thursday the coronavirus pandemic was going to have a lasting impact on the global aerospace industry, as he outlined steps for a voluntary layoff plan for employees.

“It will take time for the aerospace industry to recover from the crisis,” Calhoun said in a memo, adding that the company will “need to balance the supply and demand accordingly as the industry goes through the recovery process for years to come.”

(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D’Silva)