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Airbus reports 2019 net loss of 1.36 billion euros

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    Agence France-Presse

Paris, France   /   Thu, February 13, 2020   /   05:20 pm
 Airbus reports 2019 net loss of 1.36 billion euros An Airbus A350-1000 taxis during a test flight over Chateauroux airport, central France, on Friday. Measuring nearly 74 meters from nose to tail, the A350-1000 is the longest fuselage version of Airbus’ all-new family of twin-aisle, wide-body jetliners. ( AFP/Guillaume Souvant)

Airbus on Thursday reported a net loss of 1.36 billion euros in 2019 after being hit by a 3.6-billion-euro fine over a bribery scandal and extra development costs for the A400M transport aircraft.

The firm said operating profits rose to 6.9 billion euros ($7.5 billion), adding that it expected to deliver about 880 commercial planes in 2020 against 863 in 2019.

"We achieved a great deal in 2019. We delivered a strong underlying financial performance driven mainly by our commercial aircraft deliveries," said Airbus Chief Executive Officer Guillaume Faury.

"The reported earnings also reflect the final agreements with the authorities resolving the compliance investigations and a charge related to revised export assumptions for the A400M."

Airbus has agreed to pay 3.6 billion euros in fines to Britain, France and the United States to settle corruption inquiries sparked by suspicious sales.

The company said commercial aircraft orders increased to 768 last year from 747 in 2018.