Airbus posted a 49% slump in first-quarter profit and called for an industry-wide campaign to restore confidence in flying
) on Wednesday posted a 49% slump in first-quarter core profit and called for an industry-wide campaign to restore confidence in flying after the coronavirus pandemic triggered the “gravest crisis the aerospace industry has ever known”.
Airbus expanded furlough schemes on Tuesday by sending home 3,200 workers in Britain after putting 3,000 workers on government-backed partial unemployment schemes in France, and Faury said thousands of German staff could also be affected. Airbus said first-quarter adjusted operating profit fell 49% to 281 million euros as revenue dropped 15% to 10.631 billion euros, mainly due to clouds that were already gathering over jetliner demand before the coronavirus outbreak.Planemakers, airlines and suppliers have been left reeling by the pandemic, which has crippled passenger travel and catapulted major economies into recession.It said on Wednesday it does not immediately see a need for further government support.
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