February 13, 2020 / 5:58 AM / 14 days ago

Airbus targets operating profit gain in 2020, after bribery settlement net loss

PARIS, Feb 13 (Reuters) - Airbus plunged to a 1.362 billion euro ($1.48 billion) net loss in 2019, weighed down by a multinational bribery settlement, but the European aerospace group pledged to increase operating profit and deliver 880 commercial jets this year.

Full-year adjusted operating income rose 19% to 6.946 billion euros and should top 7.5 billion euros in 2020, Airbus said. Revenue increased 11% to 70.478 billion euros.

The net loss reflected a 1.212 billion euro charge on the troubled A400M military transporter programme as well as the 3.6 billion euro provision announced last month to cover a criminal settlement with British, French and U.S. prosecutors relating to past corrupt practices. ($1 = 0.9200 euros) (Reporting by Laurence Frost; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below