Airbus pledges profits after paying bribes

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Airbus annual press conference for the full-year results 2019 at Blagnac near Toulouse, France, February 13, 2020. REUTERS / Regis Duvignau

TOULOUSE, France (Reuters) – Airbus (AIR.PA) fell to a net loss of € 1,362 billion (US $ 1.48 billion) in 2019, weighed down by a multinational bribery agreement, but the European aerospace group is committed to increasing operating profits and providing 880 commercial aircraft this year.

Operating income is adjusted for the whole year, excluding criminal settlement and other lump sums, up 19% to 6,946 billion euros and will top 7.5 billion euros by 2020, Airbus said. Revenue increased by 11% to 70,478 billion euros.

Airbus has delivered strong basic financial performance, mainly due to our commercial aircraft delivery, CEO Guillaume Faury said in the company's statement.

This group will focus on improving operations and costs in 2020 as well as strengthening our company culture, he added.

The net loss reflects the € 1,212 billion fee for the A400M military transport program as well as a provision for the previous month's $ 4 billion settlement agreement with UK, French and U.S. prosecutors for corruption. in the past.

Airbus has mitigated the potential damage from the virus outbreak that is currently disrupting airlines and the wider global economy, corroborating the forecast of traffic growth that there is no disruption online. Any major, including from coronavirus.

Increasing the proposed dividend rate to 9% to 1.80 euros per share, Airbus predicts the whole year …

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