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

PARIS (Reuters) – Airbus (PA:) 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 program 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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.