Airbus limits the breakage

Airbus could not help but lose money in 2020, weighed down by the health crisis that has affected the entire air transport sector. But the European manufacturer has still managed to limit the breakage.

In 2020, Airbus lost 1.1 billion euros, due to restrictions taken to limit travel and which hit the airlines, customers of the aircraft manufacturer, head-on. Turnover was 49.9 billion euros, or 29% less year-on-year. The company delivered 566 aircraft last year, a third less than in 2019. The costs of terminating the A380 program amounted to 385 million euros, accounting revaluations to 480 million euros.

Sales down 29%

1.2 billion euros had to be provisioned for the restructuring plan initiated in June: the group’s management announced 15,000 job cuts (including 5,000 departures in France and 5,100 departures in Germany), for total staff of 134,000 people. Production was cut by 40%.

The losses are nevertheless slightly lower than those recorded in 2019, which had been marked by the payment of a record fine of 3.6 billion euros. And even though aircraft deliveries fell, Airbus managed to generate adjusted operating profit of 1.7 billion euros.

Airbus resilience

The 2020 results demonstrate the resilience of Airbus in the most severe crisis in the aerospace industry », Explains Guillaume Faury, executive chairman of Airbus. The company is doing much better than the great American rival, Boeing, which lost 11.9 billion dollars in 2020… And for the rest?

Airbus plans to deliver a similar number of aircraft. ” Many uncertainties remain for our industry in 2021 as the pandemic continues to impact our lives, economies and societies », Indicates the leader. It will take several years before returning to the level of activity before the health crisis.

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