Airbus saw its revenues and profits tumble as it reveals the devastating impact the Covid pandemic has had on its finances.
The aerospace giant published its first half results for 2020 this morning.
Revenues were €18.9 billion; down from € 30.9 billion in the first half of 2019.
EBIT Adjusted was €-0.9 billion, including € -0.9 billion COVID-19 related charges while EBIT (reported) € -1.6 billion; loss per share (reported) € -2.45).
Airbus is shedding up to 15,000 jobs or 11% of its workforce to cope with the crisis, which it expects to hold output down by 40% for some two years compared with pre-crisis levels.
This includes more than 1,700 at Broughton and Filton in the 海角视频.
Airbus Chief Executive Officer Guillaume Faury said: "The impact of the COVID-19 pandemic on our financials is now very visible in the second quarter, with H1 commercial aircraft deliveries halving compared to a year ago.
“We have calibrated the business to face the new market environment on an industrial basis and the supply chain is now working in line with the new plan.
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"It is our ambition to not consume cash before M&A and customer financing in H2 2020.
"We face a difficult situation with uncertainty ahead, but with the decisions we have taken, we believe we are adequately positioned to navigate these challenging times in our industry.”
Net commercial aircraft orders totalled 298 (H1 2019: 88 aircraft), including 8 aircraft in Q2, with the order backlog comprising 7,584 commercial aircraft as of 30 June 2020.
A total of 196 commercial aircraft were delivered (H1 2019: 389 aircraft), comprising 11 A220s, 157 A320 Family, 5 A330s and 23 A350s.
They announced they will now aim to produce five A350 aircraft a month rather than the six it targeted in April.