Airbus trims A350 output as it posts larger-than-expected second-quarter loss

© Reuters.

PARIS (Reuters) – Airbus (PA:) announced a fresh cut in production of its A350 long-range jet on Thursday as it posted a larger-than-expected second-quarter loss amid the coronavirus crisis.

The European planemaker also said it hoped to avoid consuming cash before M&A and customer financing in the second half of the year after a quarterly outflow of 4.4 billion euros driven by the pandemic.

Airbus reported an adjusted second-quarter operating loss of 1.226 billion euros (1.11 billion pounds) as revenues slid 55% to 8.317 billion euros.

It said it had trimmed A350 production to five jets a month, after bringing the monthly rate down from 9.5 to six in April.

Analysts were on average expecting quarterly revenues of 8.552 billion euros and an adjusted operating loss of 1.027 billion, according to a company-compiled consensus.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.