European planemaker Airbus restored business targets after generating cash in the fourth quarter, but withheld a dividend as it posted a pandemic-driven loss for 2020.
Airbus, which has overtaken U.S. rival Boeing to become the world’s largest jetmaker following a 20-month safety grounding of the Boeing 737 MAX, predicted flat 2021 deliveries and a core operating profit of 2 billion euros ($2.4 billion).
The France-based maker of jetliners and helicopters posted a full-year operating loss of 510 million euros. On a widely watched adjusted basis, operating profit slumped 75% to 1.7 billion euros as plunging demand for air travel drove revenues down 29% to 49.9 billion.
Main Photo: View of the Airbus’s logo in front of the A380 Airbus’s factory, in Blagnac near Toulouse,. EPA/GUILLAUME HORCAJUELO