PARIS – European plane maker Airbus lost 1.1 billion euros ($1.3 billion) amid an unprecedented global slump in air travel because of the pandemic, but expects to deliver hundreds of planes and make a profit this year.
CEO Guillaume Faury acknowledged Thursday that the company’s performance last year was “far from expectations” and had to constantly adapt as airlines grounded planes – or folded altogether -- because of travel restrictions.
Airbus announced in June that it would cut 15,000 jobs, mostly in France and Germany. “The crisis is not over. It is likely to continue to be our reality throughout the year,” he said.