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Tuesday, January 26, 2021

Airbus delivers 57 passenger planes in September up from 39 in August.

  • Airbus delivers 57 passenger planes in September up from 39 in August.
  • The planemaker delivered 341 jets in the first nine months of 2020.
  • Boeing slashed its forecast for demand over the next twenty years.

Airbus SE (EPA: AIR) said on Friday that its monthly jet deliveries came in the highest in September this year. It, however, didn’t log new sales as the Coronavirus pandemic continues to weigh on the global demand for air travel resulting in unprecedented levels of cash burn for airlines.

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Shares of the company closed almost flat on Friday. At £60.55 per share, Airbus is currently about 50% down year to date in the stock market after recovering from a low of £44.71 per share in mid-May. Interested in investing in the stock market online? Here’s a simple guide to get you started.

Total deliveries in the first 9 months of 2020 stand at 341

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Airbus said that it delivered 57 passenger planes in September. In comparison, it had delivered only 39 jets in August. Total deliveries in the first nine months of 2020 now stand at 341, that represents a 40% decline as compared to the same period last year.

Owing to the COVID-19 crisis, Airbus said that its output was also 40% lower on a year over year basis. A significant number of deliveries in September, the European planemaker added, were from a parked backlog. Last month, Airbus expressed plans of launching carbon-free aircraft by 2035.

Airbus suspended guidance for the full fiscal year at the start of the health crisis. Internally, however, it is aiming for a total of 500 deliveries in 2020. The world’s largest aeroplane manufacturer had delivered a record total of 863 jets last year.

Earlier this year in June, Airbus had expressed plans of a massive layoff affecting 15 thousand workers as it said that the ongoing health crisis was an unprecedented threat to its future. The novel flu-like virus has so far infected more than 37 million people worldwide and caused more than a million deaths.

Boeing slashes its forecast for demand over the next 20 years

In related news, Boeing slashed its forecast for demand over the next twenty years for the 1st time since the market crash of 2009. But it expressed confidence that demand will recover to pre-virus levels in the next decade. Boeing delivered a total of 87 jets in the first 8 months of 2020.

Airbus performed fairly upbeat in the stock market last year with an annual gain of roughly 60%. At the time of writing, the Leiden-based aeroplane manufacturer has a market capitalisation of £47.66 billion.

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