CRI听力:Concerns rise over UK economy as Airbus warns to bail

Airbus is threatening to leave the UK if the country exits the European Union without a transitional deal. 

The multinational aerospace company is threating to pull out of the UK if the country exits from the EU without any transitional agreement. 

In a risk assessment with the Brexit, Airbus says the UK leaving will "force the company" to reconsider its investments in the UK, as well as its long-term footprint in the country." 

The threat is adding to concerns over the prospect of the UK economy after the Brexit. 

Anand Menon is Professor of European Politics and Foreign Affairs at King's College London. 

"The Airbus announcement is striking because it's so unusual. It is one of the first of the big manufacturing companies to say they are considering their future in the UK but also making clear this is because of Brexit. So it will be interesting to see whether more would follow."

Earlier this month, British engine-maker Rolls-Royce has announced it's going to cut 46-hundred jobs as part of a major business shakeup.

The company contends this is not an issue with Brexit. 

Jonathan Portes, Professor of Economics and Public Policy at King's College London, says businesses are still making contingency plans.

"I think Airbus, like a number of other large firms are suddenly realizing that the prospect of 'no deal' is quite real and quite immediate and the government most importantly has no clear strategy on either to withdraw from the single market and customs union or secure a long term trade deal that meets the needs of companies like Airbus. So they are saying now publicly what they've been saying privately for quite some considerable time."

Airbus employs 14-thousand across 25 different locations across the UK. 

The company also has more than 4-thousand suppliers in the UK. 

Portes contends the departure of the UK from the European Union could be economically devastating. 

"The impact had been shown through the falling of the Sterling and the rise of inflation but growth continued to be reasonably healthy. In the last year however, we've seen a significant fall in growth, it's not a recession, not a disaster, but the UK has definitely underperformed in relative to the rest of Europe and indeed the world economy and this is due in large part to Brexit."

The UK's tax authority estimates that a no-deal Brexit could cost British and EU businesses up to 26 billion US dollars.