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Airbus Q1 profit plunges 49% as coronavirus crisis starts to bite

Usa Britain France business Coronavirus
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Planemaker Airbus has today posted a 49% slump in first-quarter adjusted operating profit to €281m as revenue dropped 15% to €10.631 billion amid the "gravest crisis the aerospace industry has ever known".

Europe's largest aerospace group also today reported a negative cashflow of €8.03 billion. This included a previously published record fine of €3.6 billion to settle bribery and corruption investigations in Britain, France and the US.

Planemakers, airlines and suppliers have been left reeling by the coronavirus pandemic, which has crippled passenger travel and catapulted major economies into recession.

Airbus suspended its profit outlook, scrapped its dividend and negotiated new commercial credit lines last month as the spread of

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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