“We are in the middle of the hardest crisisthat the aviation industry has ever experienced, “said Faury in a conference call. We now have to work together to restore passenger confidence in air travel. airbus has already secured a credit line for EUR 15 billion, issued a bond for EUR 2.5 billion and cut the dividend in order to finance the crisis to equip.
According to the chief financial officer Dominik Asam decreed airbus At the beginning of April, cash and cash equivalents of around EUR 30 billion. Some money will flow out in the current second quarter due to the difficult situation. In the third quarter, the Outflow of funds, however, end.
Production throttled
The company is currently reducing its aircraft production by around a third, as many airlines do not want to take off aircraft until later because of the slump in passenger traffic. In addition, many are currently lacking the money to pay for new aircraft. By the end of March, no airline had placed an order for the pandemic airbus canceled, declared Faury. He didn’t want to say whether there were any cancellations in April.
Delivered in the first quarter airbus 122 commercial aircraft out, 40 fewer than a year earlier. Management reported that around 60 finished machines could not have been delivered due to the restrictions resulting from the corona virus pandemic. Originally had airbus want to hand over around 880 jets to its customers this year. Had this goal as well as his sales and profit plans Faury, however, was deleted in March. The order backlog stood at 7,650 commercial aircraft at the end of March – but it is unclear how many orders are due to the expected airline bankruptcies in the crisis fall away.
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