Airbus Loses 419 Million Euros in the First 3 Months of COVID-19 Economic Crisis

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PARIS- JUNE 13: The worlds largest passenger liner, the Airbus A-380 flies on display at the Paris Air-show June 13, 2005 in the Paris suburb of Le Bourget, France. The Airshow which is held every two years is open to industry and visitors and will be showcasing some exciting new products. (Photo by Pascal Le Segretain/Getty Images)

European aircraft manufacturer Airbus said it was experiencing the biggest crisis in the history of the aviation and industry sector due to coronavirus. The company lost 419 million euros in the first quarter of 2020.

Airbus, one of the largest aircraft manufacturers in the world, is experiencing one of the biggest economic crises in its history. The company announced that it had lost 419 million euros in the results it announced for the first quarter of 2020. “Airbus was hit by the biggest crisis the aviation industry has ever seen,” said Guillaume Faury, general manager of the aviation company, that they lost 419m euros in the first 3 months of 2020.

The European aircraft manufacturer is having a hard time like many aviation companies around the world. The company, which had to give thousands of employees unpaid leave, asked for billions of dollars in order not to sink. Faury stressed that this damage was only the early stage of the major crisis. It is thought that Airbus will face greater losses in the coming period.

Having achieved a 15 percent decrease in revenue compared to the same period of 2019, Airbus also decreased from 162 to 122 in commercial plane deliveries. The companies, which could not fly due to coronavirus, decided to postpone new aircraft deliveries while keeping most of the airline fleets on the ground. This challenging process experienced by airlines has been extremely negative to commercial aircraft manufacturers such as Airbus and Boeing. While the two companies were going through the toughest period in their history, they asked governments for billions of dollars in loans.

“We are implementing a series of measures to protect the future of Airbus,” said Airbus CEO. We must work with the rest of the industry to help passengers rely on air travel by learning to live with this epidemic. ” made a statement. Saying that they plan to reduce aircraft production by a third before, Airbus confirmed that more than 3000 employees working at Broughton facilities in North Wales will be released for free earlier this week.

What will happen after coronavirus?
What happens after the human coronavirus defeats? This question, which pervades the minds of millions of people, is one of the issues that companies fear. We will eventually beat this outbreak, but the future may not be the same. At first people need to rely on companies like airlines. While it is thought that many people will approach more safely while traveling for a long time, air travels with frequent seats may be less preferred.

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