Airbus raises full-year forecast after bribery settlement wipes out 2019 earnings


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Airbus raises full-year forecast after bribery settlement wipes out 2019 earnings

On Thursday, the 13th of February 2020, the Leiden, Netherlands-based European planemaker, Airbus SE, the world’s largest aircraft carrier maker, had released a downbeat annual earnings’ report following an international bribery settlement that rubbed out all of its profits last year and handed over a €1.36 billion in net losses last year, however, the European aircraft industry giant which had snatched the aviation industry crown from the United States’ Boeing Co.

following a catastrophic year that scored only 54 deliveries for the US planemaker, had raised its full-year profit forecast for 2020 and pledged to higher operating profit alongside higher aircraft deliveries. Besides, according to Airbus SE’s Thursday’s (February 13th) earnings’ report, the European aviation industry tycoon had raised its planned dividend by 9 per cent to €1.80 per share and raised its full-year operational profit forecast to €4 billion, up from a €3.509 billion compared to the same time a year earlier, nonetheless, an en masse annual loss for the European aircraft maker had dragged its Paris-listed shares’ prices down by 2.78 per cent to €132.80 per share on Thursday’s (February 13th) market wrap-up.

Meanwhile, referring to the impacts of havoc-scale losses in bribery-related charges, Airbus SE Chief Executive, Guillaume Faury said in a post-earnings’ call with the reporters on Thursday (February 13th), “Airbus turned in a “strong underlying financial performance,” adding the company would centre its focus this year more on to operational and cost improvements. "