EconomyDrop in Airbus revenue, despite a slight surge in...

Drop in Airbus revenue, despite a slight surge in deliveries

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The logo of the company Airbus. – Sebastien SALOM-GOMIS / SIPA

  • In the third quarter, Airbus shows a net loss of 767 million euros, with a decrease of 27% of its turnover.
  • The drop in the number of deliveries between July and September, compared to the same period in 2019, was 20%, compared to 40% in the first months of the year.
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After a catastrophic start to the year, air traffic slowly picked up during the third quarter. But not enough to put the Airbus accounts in the green. The European aircraft manufacturer recorded a net loss of 767 million euros between July and September. Its turnover thus fell 27% in the third quarter, to 11.2 billion euros.

This loss is partly due to the charge of 1.2 billion euros intended to finance the support measures related to the 15,000 job cuts announced in June, including 5,000 in France and 5,100 in Germany, out of the 134,000 employees of the group. , Airbus announced this Thursday during the presentation of its accounts.

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“The crisis is far from over, we remain cautious and humble, but overall the trajectory of Airbus remains within our expectations,” reassured its executive chairman, Guillaume Faury, presenting the results. The aircraft manufacturer has just warned its subcontractors that they should prepare for a possible increase in production rates, to 47 A320 family aircraft per month, against 40 currently, “probably not before the start of the third quarter of 2021 », Explains Guillaume Faury.

More deliveries in the third quarter

To adapt to a future resumption of air traffic, which should reach a return to normal between 2023 and 2025, the aircraft manufacturer lowered its production rates by 40% in the spring. Over the first nine months of the year, aircraft deliveries fell by the same proportion, but in the third quarter, this drop was only 20% compared to the previous year, with 145 aircraft delivered. to customers. There were only 74 in the second trimester, at the height of the crisis.

Its big competitor, Boeing, has just suffered a loss of $ 449 million over the period. The American aircraft manufacturer announced on Wednesday 7,000 additional job cuts, to reduce its workforce from 161,000 to 130,000 in two years.



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