The coronary crisis stopped air transport, and with it the business of airliner manufacturers. While the American Boeing had problems before the crisis due to the crash of the 737 MAX aircraft, the European Airbus was relatively successful before the crisis. However, both companies are doing badly now, reporting billions in losses and planning redundancies. Boeing is now clinging to the authorities to allow its latest aircraft to fly again.
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The European aircraft manufacturer Airbus fell to a loss of 767 million euros (21 billion crowns) in the third quarter due to the crisis and the planned loss of 15,000 jobs. In the same period last year, on the other hand, the company reported a profit of 989 million euros. Reuters reported on Thursday.
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Revenues decreased by 27 percent year-on-year to 11.2 billion euros (307.2 billion crowns). Operating profit excluding extraordinary expenses fell by 49 percent to 820 million euros. However, it exceeded the estimates of analysts, who expected an operating profit of 708 million euros.
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The company recorded extraordinary costs of 1.2 billion euros due to the restructuring. However, it managed to keep the outflow of cash under control, as it reduced the difference between the production and sales of aircraft. However, the announcement comes at a time when France and Germany, where Airbus has major manufacturing facilities, have announced new restrictions to stop the growth in the number of new coronavirus infections.
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The covid-19 pandemic has paralyzed air travel, and airlines now have more aircraft available than they need. Airlines also delay or cancel orders in an effort to save as much as possible. In nine months, Airbus delivered 341 aircraft to customers, 40 percent less than last year.
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The company has received orders for 379 aircraft this year, but after deducting canceled orders, it has net orders for only 300 aircraft. For the whole of last year, Airbus received 768 orders in net terms.
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Boeing hopes for the return of MAX aircraft
US aircraft manufacturer Boeing reported a loss for the fourth consecutive quarter. This is due to a drop in sales caused by the coronavirus crisis and the decommissioning of its 737 MAX aircraft. The loss for the three months to the end of September was $ 466 million (10.9 billion crowns) after a profit of $ 1.2 billion in the same period last year, the company announced on Wednesday.
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However, the loss eased significantly from the previous quarter, to $ 2.4 billion. Revenue fell 29 percent to $ 14.14 billion.
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Due to the crisis, Boeing had to reduce production, cut thousands of jobs and change its aircraft development strategy. At the same time, it is trying to lift the flight ban on its 737 MAX model, which has not been allowed to air for 19 months after two serious accidents. Boeing hopes the US authorities will lift the ban next month, Reuters reported.
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Boeing also said on Wednesday that it expects to reduce the number of employees to about 130,000 by the end of next year. That is 30,000 less than it had at the beginning of this year. Three months ago, the company announced plans to cut 19,000 jobs.
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