Airbus: heavy 9m net loss
(CercleFinance.com) - Airbus Group has reported a net loss of 2,686 million euros for the first nine months of 2020, compared with a net profit of 2,186 million euros a year earlier, with adjusted EBIT of -125 million euros compared with +4,133 million euros in the same period of 2019.
The aircraft manufacturer's sales declined by 35% to 30.2 billion euros due to difficult market conditions in the commercial aircraft business, with around 40% less deliveries y-o-y.
The company withdrew its FY 2020 forecasts in March, although Airbus says it is aiming for at least break-even in terms of free cash flow before M&A and customer financing in Q4 2020.
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