PARIS: Airbus announced Thursday net losses of 1.9 billion euros ($2.2 bn) in the first six months after aircraft delivery halved as a result of the coronavirus crisis. The leading European company delivered 196 planes over the first six months of 2020 as airlines around the globe slashed schedules and pushed back orders.
Airbus reported revenue fell 39 percent to 18.9 billion euros over the first half - with hefty drop of 55 percent over the second quarter. That left operational losses of 1.6 billion euros including a 332-million-euro charge for the closure next year of the wide-body A380 programme. Operational losses from Covid-19 were booked at 900 million euros. With air traffic not expected to return to pre-pandemic levels before 2023-2025, Airbus said it has cut production by 40 percent.
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