UPDATE 1-Airbus Q1 core profit plunges 49% as coronavirus crisis starts to bite [Reuters]
Boeing Company (The) (BA)
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Source: Reuters
Airbus first-quarter core profit plunges 49% as coronavirus crisis starts to bite PARIS (Reuters) - Planemaker Airbus ( AIR.PA ) on Wednesday posted a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenue dropped 15% to 10.631 billion euros amid the “gravest crisis the aerospace industry has ever known”. Europe’s largest aerospace group also reported a negative cashflow of 8.03 billion euros, including a previously published record fine of 3.6 billion euros to settle bribery and corruption investigations in Britain, France and the United States. Planemakers, airlines and suppliers have been left reeling by the coronavirus pandemic, which has crippled passenger travel and catapulted major economies into recession. Airbus suspended its profit outlook, scrapped its dividend and negotiated new commercial credit lines last month as the spread of the coronavirus began to impact airline operations and almost halted the delivery of aircraft. S
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BA
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