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09.07.2020

Airbus first-half deliveries down 50%

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There were no new orders in June, its second month in a row of zero order activity

Stocks impacted: Airbus (AIR)

The European plainmaker said its deliveries plunged by half to 196 aircraft in the first half of the year (to a 16-year low) from 389 in the same period a year earlier, highlighting the impact of the coronavirus crisis. There were no new orders in June, its second month in a row of zero order activity, though the company did record 36 deliveries, up from 24 in May and 14 in April. Furthermore, the situation surrounding the pandemic had also caused Airbus to halt production. Late last month, Airbus said it faces an average 40% drop in business over the next two years, forcing it to cut 15,000 jobs, or 11%, of its workforce. According to some sources, Airbus had sent out dozens of default notices to airlines in a bid to keep deliveries moving. The company’s stocks dipped over 1% in a knee-jerk reaction to the release but managed to trim intraday losses afterwards.

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