Airbus says aviation may not recover until 2025 as it unveils E1.1b loss
The aerospace giant Airbus announced a E1.1b loss for 2020 Thursday and warned that the industry might not recover from the disruption caused by the pandemic for two to four years, as new virus variants delay a resumption of worldwide air travel. The world’s largest planemaker eliminated its dividend for a second straight year and predicted a leveling off in deliveries of its popular commercial jets, the company’s CE, Guillaume Faury, said. “As of today we only expect the market to recover between 2023 and 2025,” Faury said. “The pace of recovery will depend not only on the pandemic and the rate of vaccinations, but also on the decision of governments, if they choose to tighten pandemic conditions or, as I hope, restore freedom,” he said. The aircraft manufacturer, based in Toulouse, France, said revenue fell by 29% to E49.9b. Still, the company is outperforming its rival Boeing, which suffered a $11.9b loss in 2020, weighed down by the setbacks from the 737 Max. Airbus delivered 566 aircraft to airlines in 2020, 40% less than expected before the pandemic. In a sign of how badly air travel has been hit, some airlines avoided answering Airbus’s calls to alert them that the new aircraft they had ordered before the pandemic hit was ready, Faury said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-02-19/general/airbus-says-aviation-may-not-recover-until-2025-as-it-unveils-e1-1b-loss
https://portal.staralliance.com/cms/logo.png
Airbus says aviation may not recover until 2025 as it unveils E1.1b loss
The aerospace giant Airbus announced a E1.1b loss for 2020 Thursday and warned that the industry might not recover from the disruption caused by the pandemic for two to four years, as new virus variants delay a resumption of worldwide air travel. The world’s largest planemaker eliminated its dividend for a second straight year and predicted a leveling off in deliveries of its popular commercial jets, the company’s CE, Guillaume Faury, said. “As of today we only expect the market to recover between 2023 and 2025,” Faury said. “The pace of recovery will depend not only on the pandemic and the rate of vaccinations, but also on the decision of governments, if they choose to tighten pandemic conditions or, as I hope, restore freedom,” he said. The aircraft manufacturer, based in Toulouse, France, said revenue fell by 29% to E49.9b. Still, the company is outperforming its rival Boeing, which suffered a $11.9b loss in 2020, weighed down by the setbacks from the 737 Max. Airbus delivered 566 aircraft to airlines in 2020, 40% less than expected before the pandemic. In a sign of how badly air travel has been hit, some airlines avoided answering Airbus’s calls to alert them that the new aircraft they had ordered before the pandemic hit was ready, Faury said.<br/>
