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4/29, 6:36 AM (Source: TeleTrader)
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Airbus posts loss per share of €0.61 in Q1

Airbus SE said on Wednesday that its loss per share stood at €0.61 in the first quarter of 2020, marking a sharp drop from earnings per share of €0.05 achieved in the same period a year earlier.

Net loss for the quarter amounted to €481 million while adjusted earnings before income and tax (EBIT) fell 49% to €281 million. Consolidated revenues decreased 15% to € 10.6 billion.

"We saw a solid start to the year both commercially and industrially but we are quickly seeing the impact of the COVID-19 pandemic coming through in the numbers. We are now in the midst of the gravest crisis the aerospace industry has ever known. We’re implementing a number of measures to ensure the future of Airbus. We kicked off early by bolstering available liquidity to support financial flexibility. We’re adapting commercial aircraft production rates in line with customer demand and concentrating on cash containment and our longer-term cost structure to ensure we can return to normal operations once the situation improves," said Airbus Chief Executive Officer Guillaume Faury.

Breaking the News / TF