{"id":102177,"date":"2020-10-29T12:47:07","date_gmt":"2020-10-29T12:47:07","guid":{"rendered":"https:\/?p=102177"},"modified":"2024-04-04T12:22:50","modified_gmt":"2024-04-04T12:22:50","slug":"airbus-loses-e767-million-in-the-third-quarter","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2020\/10\/airbus-loses-e767-million-in-the-third-quarter.html","title":{"rendered":"Airbus loses \u20ac767 million in the third quarter."},"content":{"rendered":"\n

Airbus<\/strong> announced this Thursday a net loss of 767 million euros (about $ 900 million) in the third quarter, due in particular to an exceptional reserve of 1,200 million euros to finance the elimination of 15,000 jobs reported in June.<\/p>\n\n\n\n

See also: <\/strong>Air Transat makes a record flight of 7,600km with Airbus A321LR.<\/a><\/p>\n\n\n\n

Between July and September, Airbus had a turnover of 11,200 million euros, down 27% compared to the same period in 2019.<\/p>\n\n\n\n

The manufacturer announced that it planned to eliminate 5,100 seats in Germany, 5,000 in France, 1,700 in the United Kingdom, 900 in Spain and 1,300 in the rest of the world, AFP reported.<\/p>\n\n\n\n

See also: <\/strong>Southwest Airlines considering buying Airbus A220 aircraft.<\/a><\/p>\n\n\n\n

Airbus, which had consumed 12,400 million euros of cash in the first six months of the year due to the covid-19 pandemic, managed to stop the bleeding, with a revenue balance of 600 million euros between July and September, the company said.<\/p>\n\n\n\n

“Now we see the progress made in adapting our company to the new market context linked to covid-19,” said the company’s president, Guillaume Faury.<\/p>\n\n\n\n

“Despite the slower than expected recovery of air transport, we have made the production and delivery of commercial aircraft converge in the third quarter and stopped the consumption of cash,” he added.<\/p>\n\n\n\n

To adapt to the revival of air traffic, which will reach its 2019 level only between 2023 and 2025, Airbus reduced the overall production rate by 40% compared to what was expected before the crisis.<\/p>\n\n\n\n

Airbus now produces 40 Airbus A320s, four A220s, two A330s and five A350s every month.<\/p>\n\n\n\n

In the first nine months of the year, commercial aircraft deliveries fell by 40%, but in the third quarter the drop was only 20% compared to 2019.<\/p>\n\n\n\n

Airbus delivered 145 aircraft in the third quarter, against 74 in the second quarter, at the height of the crisis.<\/p>\n\n\n\n

Deliveries are a reliable indicator of profitability in the aviation industry because customers pay most of the bill when they receive the aircraft.<\/p>\n\n\n\n

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