The group said automotive order cancellations have risen rising from around 1% a month to as much as 25% due to the supply woes.
GKN shareholders may now regret not asking for bigger slice of Melrose pieLatest figures and outlook suggest investors rolled over too cheaply, delivering takeover bargain in 2018 An employee inspects a wingbox section for an Airbus aircraft at GKN aerospace factory in the UK. Photograph: Bloomberg/Getty
Air travel revival elicits recovery signs for aerospace and airlinesGKN owner Melrose reports recovery in car and jet parts while Ryanair passenger numbers are up 50% on August 2020 Passengers wearing face masks board a Ryanair plane at Paris-Beauvais airport. Photograph: Artur Widak/NurPhoto/Rex/Shutterstock