Airbus reports 1.13 bln-euro net loss for 2020

European plane maker Airbus on Thursday reported a net loss of 1.13 billion euros (1.36 billion U.S. dollars) for 2020 due to the “adverse market environment” created by the coronavirus crisis.

In its full-year financial results, the company said its consolidated revenues in 2020 decreased to 49.9 billion euros from 70.5 billion euros in 2019 “driven by the difficult market environment impacting the commercial aircraft business with 34 percent fewer deliveries year-on-year.”

Airbus delivered 566 commercial aircraft and Airbus Helicopters delivered 300 units in 2020, down from 863 and 332 respectively in the previous year. Revenues at Airbus Defence and Space decreased by around 4 percent, mainly reflecting lower volume as well as the impact of COVID-19 on business phasing, mainly in Space Systems, the yearly report said.

The company also reported that its commercial aircraft orders totaled 268 with the order backlog comprising 7,184 commercial aircraft by the end of last year.

At a press conference presenting the full-year results, Chief Executive Officer (CEO) Guillaume Faury said that Airbus had delivered 99 commercial aircraft to customers in China, representing 17.5 percent of its global delivery .

“We have a very strong partnership with China, and we want to continue to speak to our customers and partners, to the central government and local governments about how to make partnership even more successful,” said Faury.