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Despite sanctions against Russia: Airbus triples profits

Despite the sanctions against Russia
Airbus triples its profits

In 2020, Airbus faces high losses due to the corona pandemic. The aircraft manufacturer’s quarterly results now show “solid performance” in commercial aircraft, helicopter and defense lines. Despite the war in Ukraine, Airbus manages to more than triple its profits.

European aircraft manufacturer Airbus more than tripled its profits in the first quarter of this year. Despite sanctions imposed on Russia for the invasion of Ukraine, the company made a profit of 1.2 billion euros in the first three months, according to recently released data. Airbus is also optimistic about the future and has announced that it will expand its production capacity to 75 A320s per month by 2025. At the end of 2021, it was 45 per month.

The quarterly results showed “solid performance” in its airliners, helicopters and defense divisions, the company said. Expectations for the current year are unchanged despite the “complex geopolitical and economic context”, said Airbus chief Guillaum Faury.

Airbus returned to profitability last year after a collapse in the crown and posted a record profit. In 2020, Airbus had recorded a loss of 1.1 billion euros due to the effects of the corona pandemic on the aviation sector. By that time, the company had reduced production and cut nearly 10,000 jobs around the world.

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