Airbus turns profitable after good delivery performance
On April 29, 2021, the European aircraft manufacturer Airbus announced that it turned profitable during the first quarter of 2021.
In a report of Q1 2021 results, Airbus posted a net income of €362 million ($439 million), a notable increase compared to a net loss of €481 million ($583 million) in the first quarter of 2020. According to the European aircraft giant, the increase in finances was mainly due to a good cost and cash controls as well as higher number of aircraft deliveries.
“The good Q1 results mainly reflect our commercial aircraft delivery performance, cost and cash containment, progress with the restructuring plan as well as positive contributions from our helicopter and defence and space activities,” said Airbus Chief Executive Officer Guillaume Faury.
Airbus registered a total of 125 aircraft deliveries, an increase compared to the first quarter of 2020 standing at 122. Airbus Q1 2021 aircraft deliveries consisted of 9 A220s, 105 A320 Family, 1 A330 and 10 A350s.
However, despite positive Q1 2021 results, Airbus chief executive marked that the market is still “uncertain” and the crisis for the aviation industry is not “over yet”.
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