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Despite sanctions against Russia: Airbus triples its profit

Despite sanctions against Russia
Airbus triples its profit

In 2020, Airbus has to post high losses due to the corona pandemic. Now the aircraft manufacturer’s quarterly results show a “solid performance” in the lines of commercial aircraft, helicopters and defense. Despite the Ukraine war, Airbus is able to more than triple its profit.

European aircraft manufacturer Airbus more than tripled its profit in the first quarter of this year. Despite the 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 published figures. Airbus is also optimistic about the future and announced that it would expand its production capacity to 75 A320s per month by 2025. At the end of 2021 it was 45 per month.

Quarterly results showed “solid performance” in its airliner, helicopter and defense divisions, the company said. The expectations for the current year are unchanged despite the “complex geopolitical and economic environment”, said Airbus boss Guillaum Faury.

Airbus returned to profitability last year after a corona slump and posted a record profit. In 2020, Airbus had made a loss of 1.1 billion euros due to the effects of the corona pandemic on the aviation sector. At that time, the company had cut back production and cut almost 10,000 jobs worldwide.

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