Airbus incurred € -1.2 billion restructuring charges and plans to slash 15,000 jobs. – : Newsflight :
Manufacture , October 29,2020
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Airbus reported consolidated financial results for the nine months ended 30 September 2020.

According to the report, the revenues decreased to € 30.2 billion (9m 2019: € 46.2 billion), mainly impacted by around 40% fewer deliveries year-on-year.

Consolidated EBIT (reported) was € -2,185 million (9m 2019: € 3,431 million), including Adjustments totalling a net € -2,060 million. These Adjustments comprised:

The consolidated reported loss per share of € -3.43 (9m 2019 earnings per share: € 2.81) includes the financial result of € -712 million (9m 2019: € -233 million).

Airbus incurred 1.2-billion-euro ($1.42 billion) restructuring charges as it is plans to slash 15,000 jobs. It said, the new restructuring charge may have to be reassessed depending on ongoing talks with unions over 15,000 job cuts,

A total of 341 commercial aircraft were delivered (9m 2019: 571 aircraft), comprising 18 A220s, 282 A320 Family, 9 A330s and 32 A350s.

During the third quarter of 2020, a total of 145 commercial aircraft were delivered including 57 deliveries in September.

The net commercial aircraft orders totalled 300 (9m 2019: 127 aircraft) with the order backlog comprising 7,441 commercial aircraft as of 30 September 2020.

Airbus Defence and Space’s order intake increased to € 8.2 billion, with the third quarter including an additional A330 MRTT as well as contract wins in telecommunications satellites.

Airbus’ EBIT Adjusted of € -641 million (9m 2019: € 3,593 million(1)) mainly reflected the reduced commercial aircraft deliveries and lower cost efficiency. It also included € -1.0 billion of COVID-19 related charges.

At the end of September, the number of commercial aircraft that could not be delivered due to COVID-19 had reduced to around 135.

On 21 October 2020, the Company signed a new € 6 billion Revolving Syndicated Credit Facility partially terming out the € 15 billion credit facility by € 3 billion and in order to refinance its existing € 3 billion Revolving Syndicated Facility.

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