Airbus was finalising an imminent restructuring plan expected to include thousands of job cuts on Monday as its chief executive confirmed plans to hold output down by 40% for two years.
Airbus is on course to end 2019 with a rise in its order backlog after netting more sales than deliveries across its major products, a senior executive said, thanks partly to strong demand in Asia.
Revenues fell 15.2 per cent to 10.6 billion euros, reflecting a "market environment strongly impacted" by the pandemic, "particularly in commercial aircraft", Airbus said in a statement.
Airbus on Wednesday posted a 49% slump in first-quarter core profit and called for an industry-wide campaign to restore confidence in flying after the coronavirus pandemic triggered the “gravest crisis the aerospace industry has ever known”.
Battered by the coronavirus pandemic, Airbus announced last month that it must eliminate 15,000 jobs, or more than 10% of its global workforce, to safeguard its future and warned of more thin years ahead.
European planemaker Airbus on Friday made what it described as a final step aimed at halting a transatlantic trade war over billions of dollars of aircraft subsidies.
Aircraft manufacturers are hit by the devastating impact of the coronavirus pandemic on the aviation industry. The number of global commercial aircraft orders was zero during the month of September.
The EU regretted on Thursday the US decision to slap more tariffs on French and German products as part of spat over aircraft manufacturers Airbus and Boeing. Brussels complained that Washington had “unilaterally” disrupted ongoing talks
Airbus flew back into profit in the first three months of the current year as cost-cutting and restructuring measures began to pay off, but it warned that the crisis caused by the coronavirus pandemic was not yet over.