Airbus Had a Surprisingly Good 2020
Last week, Airbus (OTC: EADSY) reported its final order and delivery numbers for 2020. The COVID-19 pandemic, which crushed the global airline industry last year, weighed heavily on its results. Still, considering the magnitude of the crisis, Airbus had a very solid year. Let's take a look.
It has become a common pattern for Airbus to build up inventory of its commercial jets during the year and then scramble to deliver as many as possible in December. The pandemic aggravated this tendency in 2020, as many airlines refused to take delivery of new jets during the spring and summer, due to financial problems and government restrictions that complicated the aircraft delivery process.
Indeed, Airbus delivered just 341 commercial jets in the first nine months of 2020, down from 571 in the prior-year period. That left it with a backlog of about 135 jets that it had built but had been unable to deliver because of the pandemic.
Source Fool.com
