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Airbus Slips To Loss In Q1 With Weak Revenues Amid Covid-19

(RTTNews) - European plane maker Airbus SE (EADSF.PK, EADSY.PK) reported Wednesday that its first-quarter consolidated net loss was 481 million euros, compared to last year's profit of 40 million euros. Loss per share was 0.61 euro, compared to earnings per share of 0.05 euro a year ago.

Consolidated EBIT fell to 79 million euros from 181 million euros last year. Adjusted EBIT was 281 million euros, down from 549 million euros a year ago, mainly driven by Airbus.

Consolidated revenues decreased to 10.6 billion euros from prior year's 12.5 billion euros, reflecting the difficult market environment strongly impacted by COVID-19 situation, particularly in commercial aircraft with 40 less deliveries than a year earlier.

Net commercial aircraft orders totaled 290 with the order backlog comprising 7,650 commercial aircraft as of 31 March 2020.

Airbus Chief Executive Officer Guillaume Faury said, "We saw a solid start to the year both commercially and industrially but we are quickly seeing the impact of the COVID-19 pandemic coming through in the numbers."

Going ahead, the company said the assessment of COVID-19 implications on outlook is in progress. No new guidance issued given limited visibility

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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