Airbus posts record profits in 2021, after two years of losses during the Covid pandemic
Airbus posted record profits in 2021, after two years of losses during the Covid pandemic.
The planemaker delivered 611 commercial aircraft delivered in 2021, an eight percent increase on 2020.
Gross commercial aircraft orders totalled 771, up from 383 in 2020 with net orders of 507 aircraft after cancellations.
Those orders included the first for the A350 freighter “confirming customer demand for this new programme.” Airbus has said.
Last week Singapore Airlines on finalised an order for seven A350s, while Etihad Airways placed a provisional order for seven at the Singapore Airshow.
Airbus predicts 5.5 billion euros in core profit in 2022, and is aiming to deliver 720 commercial aircraft.
The company said the A320 Family ‘ramp-up’ is on trajectory to achieve rate 65 by summer 2023.
Airbus said: “As the basis for its 2022 guidance, the Company assumes no further disruptions to the world economy, air traffic, the Company’s internal operations, and its ability to deliver products and services.”
Guillaume Faury, Airbus Chief Executive Officer. said: “2021 was a year of transition, where our attention shifted from navigating the pandemic towards recovery and growth.”
Thanks to the resilience and efforts of our teams, customers and suppliers, we delivered remarkable full-year results.”
“The strong financials reflect the higher number of commercial aircraft deliveries, the good performance of our Helicopters and Defence and Space businesses as well as our efforts on cost containment and competitiveness.”
“Record net income and our efforts to strengthen the net cash position underpin our proposal to reintroduce dividend payments going forward.”
“At the same time, we continue to invest in our strategic priorities and in the transformation of our company.”
For the first time in two years, the company will offer a dividend, of 1.5 euros per share.
Talks to avert strike action at Broughton
Discussions are expected to begin this week with unions and Airbus at Broughton after 3,000 employees voted in favour of strike action.
Unite union says the company has refused to improve on an ‘unacceptably low’ pay offer for 2021.
“This is despite the fact that workers shouldered a pay freeze in 2020” Unite said.
Airbus has said it is disappointed by the decision “given the damaging impact it will have on our recovery” but said it committed to ongoing dialogue with the union.
Tony Brady Unite Regional Co-ordinating Officer commented: “Airbus have published excellent financial results but are failing miserably to offer our members at Broughton a decent pay rise. ”
“The healthy finances of Airbus have only been achieved through the dedication hard work of their world class workforce.”
“If Airbus want to avoid industrial action at Broughton they must change course and table a pay award that reflects the cost of living crisis and meets our members expectations”.
An Airbus spokesman said: “ We understand the decision to vote in favour of industrial action has not been taken lightly.”
“However, we are disappointed by the decision, given the damaging impact it will have on our recovery from the pandemic, which has been the worst crisis the aviation industry has ever faced.”
“Airbus in the UK managed to successfully navigate the first waves of the pandemic without the need for any compulsory redundancies at a cost of more than £100M and we made our pay offer in the context of the pandemic’s impact on our business and the wider benefits structure employees receive.”
The spokesman said: “The Company is keen to avoid damaging industrial action so we can focus on building a resilient, competitive and collaborative place to work for years to come.”
“We are committed to ongoing dialogue with the Trade Union to help bring this situation to a successful resolution.”
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