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Airbus returns to the black with a net profit of US$439 million for the quarter
April 29th 2021
Airbus today reported a net profit of 362 million euros (US$439 million) for the three months to March 31, 2021, swinging to the black from a net loss of 481 million euros a year earlier. Read More » Revenue was down 2%, to 10.5 billion euros, Airbus said in a regulatory filing. “The good Q1 results mainly reflect our commercial aircraft delivery performance, cost and cash containment, progress with the restructuring plan and positive contributions from our helicopter and defence and space activities,” Airbus CEO, Guillaume Faury, said. “The first quarter shows the crisis is not yet over for our industry and that the market remains uncertain." Airbus's commercial aircraft business posted earnings before interest and tax (EBIT) of 343 million euros for the quarter, more than six times above the 57 million euros in the same period 12 months ago.
Its outlook for calendar 2021 was unchanged, Airbus said, with the company targeting equal numbers of commercial aircraft deliveries as 2020 (566), adjusted EBIT of 2 billion euros and breakeven free cash flow before mergers and acquisitions and customer financing.
