Airbus announces EUR 1.133bn losses in 2020.

Airbus, a European aircraft maker, announced consolidated net losses of EUR 1.133 billion in 2020, compared to EUR 1.362 billion in 2019.The company generated revenues of EUR 49.9 billion in 2020, down from EUR 70.5 billion during the previous year, according to a press release on Thursday.

Lower revenues are attributed to the difficult market conditions impacting the commercial aircraft business with 34% year-on-year (YoY) fewer deliveries.In addition, the consolidated order intake retreated to EUR 33.3 billion in 2020, compared to EUR 81.2 billion during the earlier year.

Meanwhile, the adjusted earnings before interest and taxes (EBIT) declined to EUR 618 million in 2020 from EUR 5.947 billion in 2019, attributed to the reduced commercial aircraft deliveries and associated lower cost efficiency. The loss per share settled at EUR 1.45 last year, versus EUR 1.75 in 2019.

Commenting on the company’s performance, the Airbus CEO, Guillaume Faury, said: “Many uncertainties remain for our industry in 2021 as the pandemic continues to impact lives, economies, and societies. We have issued guidance to provide some visibility in a volatile environment.”

Source: Mubasher

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