Airbus profits while Boeing reports a sixth consecutive quarterly loss
Airbus reported a net income of USD 439 million in the first quarter of 2021 while Boeing reports a sixth consecutive quarterly loss.
Airbus has delivered 125 commercial aircraft in the first quarter of this year which is higher than 2020 which saw the plane manufacturer deliver 122 aircraft.
The delivered jets were 10 A350’s, 1 A330, 9 A220, and 105 A320 family jets. Airbus also secured 39 new orders during this period.
“The good Q1 results mainly reflect our commercial aircraft delivery performance, cost, and cash containment, progress with the restructuring plan as well as positive contributions from our helicopter and defense and space activities. The first quarter shows that the crisis is not yet over for our industry and that the market remains uncertain.” - Guillaume Faury, CEO, Airbus
Boeing reported a higher than anticipated loss during the first quarter which is the sixth consecutive quarterly loss for the company.
Boeing has faced additional problems with new electrical issue on the 737 MAX which resulted in the grounding of some of the MAX aircraft while the 777X program is facing further delays.
Boeing just recently restarted deliveries of the 787 after discovering flaws in the fuselage. Boeing delivered 77 aircraft during the first quarter.
“We continue to make steady progress on this program and are working closely with our customer to assess the impact and mitigate risks to the delivery schedule,” - Boeing
Airbus lead as the largest airplane manufacturer at the end of 2020 delivering 566 aircraft while Boeing delivered just 157.
Both the manufacturers were hampered with airline's reluctance to take in new orders and deliverers as airlines are struggling to save expenditure to stay afloat. Following the pandemic, air traffic is expected to recover by 2023.