MoneyNewsWorld

Airbus reported net loss for 2019

UNITED STATES (OBSERVATORY NEWS) — Airbus received a net loss in 2019, as the European aircraft manufacturer was fined due to corruption scandal and incurred additional costs for the development of the A400M transport aircraft.

Airbus posted a net loss of 1.36 billion euros last year, compared with a net profit of 3.05 billion euros in 2018.

Adjusted EBITDA in 2019 increased by 19% and amounted to 6.946 billion euros. The figure should exceed 7.5 billion euros in 2020, the company said.

Airbus revenue last year grew 11% to 70.478 billion euros.

The net loss for 2019 reflects expenses of € 1.212 billion under the A400M military transport aircraft program, as well as a fine of € 3.6 billion. Airbus announced in January that it had reached an agreement with authorities in the UK, France and the United States as part of a multi-year investigation into bribes and corruption.

The number of orders for commercial aircraft received by Airbus in 2019 increased to 768 from 747 a year earlier.

This year, the company plans to supply about 880 commercial aircraft, compared to 863 in 2019.

Online:

This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.

Our Standards, Terms of Use: Standard Terms And Conditions.

OBSERVATORY

Contact us: contact@newsobservatory.com

Stay connected with Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.

Tags
Close