Airbus continues to suffer from the COVID-19 crisis

The European aircraft manufacturer is struggling with a slower than expected recovery in the aviation sector, and that is a burden on the results. Revenue in the third quarter fell by more than a quarter, to 11.2 billion euros, mainly due to a decrease in the number of deliveries and lower revenues from the defense and space industries. Under the line, Airbus came short of EUR 767 million after a profit of almost EUR 1 billion a year earlier.

Sales in the first nine months of 2020 amounted to EUR 30.2 billion, a decrease of 35% compared to the same period a year ago. Under the line there was a loss of almost EUR 2.7 billion. In the same period last year, the company made a profit of almost EUR 2.2 billion.

In the third quarter, the aircraft manufacturer delivered commercial 145 cases, of which 57 in the month of September. In total, Airbus supplied 341 aircraft in the nine months of this year compared to 571 aircraft in the same period a year ago.

However, CEO Guillaume Faury sees some bright spots, especially in the way the company has adapted to the crisis. Then it is about stabilizing the cash flow, so that the money no longer flows out of the company. Faury therefore looks forward to the fourth quarter with confidence.

According to the manager, other arrangements made by the company to adapt to the crisis also show that discussions with social partners and stakeholders as suppliers are “well advanced”. Airbus announced at the end of June that by the summer of 2021 almost 15,000 jobs would be lost. The company also cuts back production.