What did COVID-19 pandemic do to Airbus. ( Financially )
Airbus has today released its third-quarter financial results. Like all companies across the aviation industry, the European plane manufacturer has been impacted by the COVID-19 pandemic in addition to the sudden lack of demand for new commercial aircraft. The company said that it had incurred €1 billion of COVID-19 pandemic.
Airbus was aware in March of the coming impacts of the COVID-19 crisis. However, the company today revealed that global passenger service is recovering slowly than it was expected. Airbus CEO Guillaume Faury commenting on this and said:-
“After nine months of 2020 we now see the progress made on adapting our business to the new COVID-19 market environment. Despite the slower air travel recovery than anticipated, we converged commercial aircraft production and deliveries in the third quarter and we stopped cash consumption in line with our ambition.”
Airbus delivered 145 aircraft in the third quarter of 2020, higher than Boeing entirely this year so far. This means that in 2020, Airbus has delivered 341 aircraft. The delivered aircraft of single-asile more than wide-bodies it composed of 300 narrowbodies and 41 wide-bodies.
Many airlines are now postpone their aircraft deliveries due to financial crisis that is expressed now however, why take new aircraft when the ones you have aren’t flying and even thou the majority of the airlines is operating the full fleet.
On the other hand, with good news, deliveries are still in action British Airways has continued to take delivery of its Airbus A350-1000 orders. Meanwhile, Turkish airline took the first on the lat week, Delta Air Lines joined in by taking A220 everyday in the past week, Tap air took delivery of the A321 neo.
Airbus deliveries fewer aircraft orders than aircraft delivered for the nine months. On this year, 300 aircraft have been ordered, with 127 of these orders from July to September. This means that the European planemaker now has excess of 7,441 undelivered aircraft as of September 30th.