Airbus reports strong results amid hopes of amicable resolution to Qatar Airways feud

posted on 17th February 2022 by Eddie Saunders
Airbus reports strong results amid hopes of amicable resolution to Qatar Airways feud

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Plane manufacturer Airbus has managed to consolidate its financial situation amid legal troubles.

In 2021, the company’s revenues increased four per cent, going from €49.9bn to €52.1bn, while both its order intake and value increased to €62bn and €398bn. Helicopter was among the sectors that performed best as, with its 414 net orders, it achieved a book-to-bill ration above one, both in terms of units and value.

As a result of a higher number of deliveries made during the year, Airbus’s adjusted EBIT skyrocketed 185 per cent to €4.9bn.

“2021 was a year of transition, where our attention shifted from navigating the pandemic towards recovery and growth,” said the group’s chief executive Guillaume Faury.

“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.”

Commenting the company’s results, Faury added that he hopes to find an amicable solution to the ongoing row with Qatar Airways.

The two companies have been feuding for the past few months after Qatar Airways was forced to ground its A350 fleet over surface damages.

Following a back and forth full of mutual accusations, the Qatari airline decided to take the manufacturer to court in the UK for more than $600m.

Faury said that, despite his decision to revoke all of Qatar Airways’ orders, Airbus still wants to find a solution.

“We had to make the decision to exercise our rights,” he told analysts. “This decision followed many attempts to find mutually beneficial solutions and we continue to hope for an amicable solution.

“I would like to say as well that for us at Airbus the relationship with our customers is of the utmost importance and we will continue to work hard to service them.”