Airbus Posts Second-Quarter Loss as Virus Crisis Bites

Source dpa, Hamburg, Germany (TNS)

July 30, 2020

Paris (dpa) – European aircraft manufacturer Airbus made an adjusted loss before interest and tax of 1.2 billion euros (1.4 billion dollars) in the second quarter of 2020, it announced on Thursday.

The figure is down from 1.98 billion euros profit for the same period last year, as the aircraft manufacturer suffers the knock-on effects of the coronavirus on the aviation industry.

The company's net loss was 1.4 billion euros, compared to 1.2 billion euros profit in the second quarter of 2019.

With its airline customers suffering massively reduced activity and income, Airbus last month announced plans to cut 15,000 jobs worldwide and reduce production by 40 per cent for two years.

Airbus posted an adjusted profit before interest and tax of 281 million euros in the first quarter of 2020, with a net loss of 481 million euros.

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