OXFORD-BASED aerospace giant Airbus has threatened to leave the UK in the event of "no-deal" Brexit putting thousands of jobs at risk.

The firm, whose helicopter division is based at Oxford airport in Kidlington, said it would "reconsider its investments in the UK, and its long-term footprint in the country" if Britain crashed out of the single market and customs union.

In its risk assessment published online the firm also called on the Government to extend the planned transition period - due to run until December 2020 - if a deal is agreed, saying it was too short for the business to reorganise its supply chain.

In December last year Airbus Helicopters UK were awarded a new contract - initially worth £100m - to continue its operational support to the RAF Puma 2 fleet, based at RAF Benson.

The firm said the deal would save 25 jobs, which would have been lost if the contract wasn't renewed, but their latest warning puts hundreds more Oxfordshire jobs at risk.

Tom Williams, the chief operating officer of Airbus Commercial Aircraft, said: "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 Helicopters UK includes 12,000 helicopters in 150 countries, and 100 of these helicopters serve the UK Ministry of Defence for transport, training and operational missions.