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Airbus begins to emerge from the clouds of the crisis

2021-05-02T08:00:10.296Z

The European aeronautics and defense giant reported a good result in the first quarter thanks to its aircraft deliveries. May



Is the crisis behind Airbus?

The European aircraft manufacturer on Thursday published a net profit of 362 million euros in the first quarter, against a net loss of 481 million a year earlier.

Airbus delivered 125 commercial aircraft in the first quarter of 2021, three more than last year over the same period.

A figure which remains however far from the scores of 2019 with 162 deliveries.

However in its match with Boeing, Airbus comes far ahead.

Boeing only delivered 77 aircraft during this period.

While remaining cautious, the world number one maintained its forecasts unchanged for 2021, counting in particular on a number of aircraft deliveries at least equivalent to that of last year (566 aircraft) and on an operating profit of around of two billion euros.

Over this quarter, sales compared to last year were broadly stable at 10.5 billion euros.

On the other hand, Airbus tripled its operating profit thanks to its cost reduction plan but also by taking advantage of a favorable exchange rate against the dollar.

Head of the CAC 40 at the start of the trading session

"The first quarter shows that our sector has not yet overcome the crisis and that the market context remains uncertain", however warned the executive chairman of Airbus Guillaume Faury.

The only gray area, the aircraft manufacturer only recorded 39 aircraft orders in the first quarter, against 356 last year.

In addition, around a hundred orders have been canceled due to financial difficulties and the lack of prospects for airlines facing the drop in global air traffic caused by the Covid-19 epidemic.

Thus the airline Lufthansa announced to have recorded a net loss of 1.05 billion euros, against a loss of 2.12 billion euros a year earlier.

Turnover fell to 2.56 billion euros over the period, from 6.44 billion euros in the first quarter of 2020. However, the German air transport group Lufthansa anticipates a significant rebound in demand for flights in the second half of the year, even though its capacities for 2021 will be 40% of pre-pandemic levels.

However, the Airbus announcements and the outlook for the airlines reassured investors. The aircraft manufacturer took the head of the CAC at the start of the trading session with a gain of 2.74% to 102.02 euros per share.

Source: leparis

All business articles on 2021-05-02

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