Wary Airbus braces for another volatile year

Airbus says 2020 was the jet industry's 'most challenging crisis'.

On Thursday (February 18) the world's biggest maker of airliners posted an operating loss for the year of 510 million euros, or about 614 million dollars.

The global travel slump sparked a big restructuring at the firm, saddling it with hefty charges.

There were costs too in shutting down its loss-making line of A380 super-jumbos.

Now the firm is wary about 2021, predicting no upturn in jet deliveries.

It's also scrapped its dividend for a second year, and slashed the value of planes it has on order.

Though it does expect adjusted operating profits to rise.

But Thursday also saw fresh signs of how just tough life is for Airbus customers.

Air France-KLM says it will plunge to yet deeper losses before seeing a recovery.

That as it posted an 8.5 billion dollar net loss for 2020, and put back a key profitability goal.

The group last year shed about 10% of its workforce, and says another 6,000 jobs will go in the coming years.

Now its future - and Airbus's too - hangs on a recovery in travel demand.