Airbus reports 481m euros loss as pandemic takes its tollpublished at 07:29 British Summer Time 29 April 2020
Aerospace giant Airbus has reported a first quarter net loss of 481m euros as the impact of the pandemic continues to take its toll on the industry. The loss compared to a profit of 40m euros in the same period last year.The company said the figures reflected a "market environment strongly impacted" by the pandemic, "particularly in commercial aircraft". On Monday the company announced it would furlough 3,200 staff at its site in Broughton, Flintshire.
The aviation industry is expected to shrink significantly in the wake of the Covid-19 outbreak.