Wednesday, May 25, 2022
  • Hyderabad
  • Telangana
  • Andhra Pradesh
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Reviews
    • Education Today
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | Business | Airbus Lost 1 3 Billion Amid Pandemic

Airbus lost $1.3 billion amid pandemic

By AP
Published: Published Date - 09:13 PM, Thu - 18 February 21
Representational Image. Airbus doesn't expect the industry to recover to pre-pandemic levels until 2023-2025.

Paris: European plane maker Airbus lost 1.1 billion euros ($1.3 billion) amid an unprecedented global slump in air travel because of the pandemic, but expects to deliver hundreds of planes and make a profit this year. CEO Guillaume Faury acknowledged Thursday that the company’s performance last year was “far from expectations” and had to constantly adapt as airlines grounded planes – or folded altogether — because of travel restrictions. Airbus announced in June that it would cut 15,000 jobs, mostly in France and Germany. “The crisis is not over. It is likely to continue to be our reality throughout the year,” he said.

Airbus doesn’t expect the industry to recover to pre-pandemic levels until 2023-2025. Airbus sales were down to 49.9 billion euros from 70 billion euros the year before. The company also reported a loss in 2019 because of a major multinational corruption settlement.

Airbus delivered 566 aircraft last year and expects to deliver about the same number this year, the company said. It took in 268 commercial plane orders, down from 768 the year before.

Both figures were well down from normal recent years, but above those from struggling US rival Boeing. Boeing Co. got a bump in orders and deliveries of new planes in December, but it wasn’t enough to salvage the year.

It notably suffered from continuing cancellations of its 737 Max jet, which was grounded for 21 months after crashes in Indonesia and Ethiopia killed 346 people.

  • Follow Us :
  • Tags
  • $1.3 billion
  • air travel
  • Airbus
  • Airbus CEO Guillaume Faury

Related News

  • India requires 2,210 aircraft over next 20 years, says Airbus

  • Hyderabad: Airbus to set up recruitment drive at Wings India

  • Airbus to hire engineering, IT talent at Hyderabad airshow

  • Hyderabad: Airbus to showcase A350 long-haul aircraft at Wings India airshow

  • Opinion: Pandemic and enduring changes

  • Boeing, Airbus warn US that 5G rollout will negatively impact aircraft safety

Latest News

  • Fake ‘Work from Home’ job syndicate busted; 2 held in Delhi

    3 mins ago
  • Report says Gates ‘poured’ millions into attacking Musk, Tesla CEO fires back

    9 mins ago
  • TTD to perform Srinivasa Kalyanam in US

    11 mins ago
  • Warner Bros. considered replacing Amber Heard in ‘Aquaman 2’

    24 mins ago
  • Cannes 2022: Deepika Padukone exudes charm in orange frill gown on Day 7

    39 mins ago
  • AirPods Pro 2 likely to enter mass production during Q2 this year

    54 mins ago
  • BJP leader hacked to death in Chennai

    59 mins ago
  • What if man marries another man… : Bihar CM Nitish Kumar

    1 hour ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam