Airbus posts more than $500m first-quarter loss for 2020

The economic effects of the coronavirus pandemic are being felt in many sectors of the global economy - aviation and oil in particular - and they are hitting the biggest players.
After already announcing it would cut aircraft production by a third and that the company was "bleeding cash at an unprecedented speed", aerospace giant Airbus has posted a first-quarter loss of more than $500m.
The CEO warns this is the "gravest crisis the industry has ever known".
Boeing has already announced plans to cut as many as 7,000 jobs.
The company's CEO predicts that global airline revenue could drop by more than $300bn this year, and it will take years to recover.
The United Kingdom's national carrier, British Airways, is set to cut up to 12,000 jobs, about one-third of its workforce.
The airline has suspended 96 percent of its flights for April and May.
Associate Editor and Chief Correspondent of Orient Aviation Tom Ballantyne discusses this issue with Al Jazeera.

#AlJazeeraEnglish #Pandemic #Aviation

[mohsinayubi]

Bailed out companies must not be allowed buyback and salary raise for CEO and executives.

[unclegeo]

when is the possibility to back in normal all airbus pssgr.?
anyone concern can give idea?

[ramatgan]

Still shareholders will get their dividends. Then they will plead for a bailout. They’re capitalists when they want and then socialists when they want.

[imranejaz]

It's amazing company like Airbus got shaken by merely 500M. Price of two new plane.

[NeilDSouza]

Both Airbus and Boeing have made a grave mistake with the A380 and the 737 Max respectively...

[danubuska]

It has been a breath of fresh air with the planes grounded. Birds are singing more and bees are bouncing back. In my area anyway. I know the fuel is bad as my car paint was stripped when I worked at the airport for 10 months.

[donaldtrump]

We are witnessing decoupling of everything anything.Horrible scenario lurking particularly for sectors which were government financed market driven

[BoydGilbreath]

That's not counting government bail outs. Just poor mouthing.

[sinfuldebauchery]

Hopefully air travel will get cheaper.

[toesnose]

I feel sorry for the employees, but not for the corporate CEOs and their overlords who will expect their current income levels to continue regardless of the economics of the world and their shareholders will expect the revenues from owning stocks. They of course expect to be bailed out, as the employees will be terminated furloughed reclassified pay structures adjusted downward the only goal they have is support their own lavish lifestyles at the top. And of course the government expects their bribes to continue, that’s just doing business

[AbdulMajid-bcxf]

For now u all have to slow down on the aerotransport look at the danger of all Crue .eng and operation staff hope u make it bye.