Airbus is the first major manufacturer to commit to pulling investment from Britain after we leave the EU.
The company which creates £1.7 billion in tax revenues every year is looking to move production of aircraft wings to China, the US, or somewhere else in Europe.
Company bosses have suggested that they are fed up with Theresa May’s stumbling Brexit process.
If there was no extension to the Brussels transition period, the company threatened to stop partnering with any new UK suppliers.
A statement said Airbus would “carefully monitor any new investments in the UK and refrain from extending the UK suppliers/partners base”.
Theresa May’s transition period is set to last until 2020.
According to the Times, company bosses warned the Prime Minister of their threats to quit around three weeks ago.
Tom Williams, the chief operating officer of Airbus Commercial Aircraft, said: “In any scenario, Brexit has severe negative consequences for the UK aerospace industry and Airbus in particular.
“Therefore, immediate mitigation measures would need to be accelerated.
“While Airbus understands that the political process must go on, as a responsible business we require immediate details on the pragmatic steps that should be taken to operate competitively.
“Without these, Airbus believes that the impacts on our UK operations could be significant.
“We have sought to highlight our concerns over the past 12 months, without success.
“Far from Project Fear, this is a dawning reality for Airbus.
“Put simply, a no-deal scenario directly threatens Airbus’ future in the UK.”
Airbus directly employs 14,000 people in the UK, and their business supports a further 110,000 around the country.
They have trained 4,000 apprentices in the last decade, and have main production sites in Plymouth, north Wales, Stevenage and Bristol.