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Airbus lost $1.3B amid coronavirus, projects 2021 bounce back

Airbus lost $1.3B amid coronavirus, projects 2021 bounce back
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Airbus on Thursday announced that the company lost $1.3 billion last year, blaming the coronavirus and saying it is hopeful for a bounce back in 2021. 

As the basis for its 2021 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services,” the company report says. 

The 2020 reports for airlines have shown significant losses as many stopped traveling last year when the coronavirus pandemic broke out. Millions across the world are still under coronavirus restrictions leaving many hesitant to get on an airplane.

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Net commercial aircrafts orders were also down for Airbus, which is based in Paris, as the company only saw 268 orders compared to 768 the year before. 

The overall sales were down 20 billion euros as 2019 saw 70.5 billion euros, or about $85 billion, in sales and 2020 only saw 49.9 billion euros, or about $60.2 billion, in sales. 

“The 2020 results demonstrate the resilience of Airbus in the most challenging crisis to hit the aerospace industry. I want to thank our teams for their great achievements in 2020 and acknowledge the strong support of our Helicopters and Defence and Space businesses. I would also like to thank our customers, suppliers and partners for their loyalty to Airbus,” said Airbus CEO Guillaume Faury. 

It is unclear when air travel will be able to return to its pre-coronavirus pandemic sales. Although coronavirus vaccines are being distributed worldwide, officials caution that it will still be some time before businesses are able to fully reopen to their normal capacity without masks or social distancing. 

“Many uncertainties remain for our industry in 2021 as the pandemic continues to impact lives, economies and societies. We have issued guidance to provide some visibility in a volatile environment. Over the longer term, our ambition is to lead the development of a sustainable global aerospace industry,” Faury added.