Airbus returns to profit but warns crisis is not over.
Airbus announced Thursday that it had returned to a profit in Q1 following a E1.1b loss last year because of the coronavirus pandemic, but its top executive warned that the economic toll would continue. “The first quarter shows that the crisis is not yet over for our industry, and that the market remains uncertain,” Guillaume Faury, CE of the world’s largest airplane maker, said in a statement. Airbus booked a net profit of E362m ($440m) between January and March, compared with a loss of E481m a year earlier, as cost-cutting measures — which included more than 11,000 layoffs announced last year for its global operations — bolstered the bottom line. Revenue fell 2% to E10.5b.<br/>
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Airbus returns to profit but warns crisis is not over.
Airbus announced Thursday that it had returned to a profit in Q1 following a E1.1b loss last year because of the coronavirus pandemic, but its top executive warned that the economic toll would continue. “The first quarter shows that the crisis is not yet over for our industry, and that the market remains uncertain,” Guillaume Faury, CE of the world’s largest airplane maker, said in a statement. Airbus booked a net profit of E362m ($440m) between January and March, compared with a loss of E481m a year earlier, as cost-cutting measures — which included more than 11,000 layoffs announced last year for its global operations — bolstered the bottom line. Revenue fell 2% to E10.5b.<br/>
