Good News:Airbus did not receive a single airplane cancellation in April. – Idaho Reporter

Eurozone

Good News:Airbus did not receive a single airplane cancellation in April.

The European aircraft manufacturer Airbus (Airbus SE-EPA: AIR) did not receive a single cancellation of aircraft orders in the middle of the deepest crisis in the aviation industry. At the beginning of April there was even an order for nine aircraft from the Avolon Aircraft Leasing, the 320 neo family, the aircraft manufacturer said in Toulouse on Thursday.

This brought the number of gross orders to 365 this year. As there had been 66 cancellations in the first three months, the number of net orders was 299 by the end of April. Due to the corona-limited production and the conditions as a result of the crisis, April only 14 aircraft will be delivered. Since the beginning of the year, deliveries have totaled 136.

The U.S. investment bank Goldman Sachs left the Airbus shares on the ” Buy Rating” with a target price of EUR 84 according to the order and delivery figures. Analyst Chris Hallam expects 509 aircraft to be delivered for the full year, according to a study released on Friday, which would mean a 70 percent decline in operating profit (EBIT) and a negative cash flow of EUR 15.2 billion. However, he sees strong potential for a better outlook for the aircraft manufacturer, since the market should recover in 2022.

Airbus’ stock was hit hard in the wake of the corona crisis. While the stock price was still trading at EUR 139.40 in January, it has since dropped back to EUR 47.70. A share price closed at 56.48 on Thursday.

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