Tag Archives: Airbus

Air France prepares for the arrival of the first Airbus A220

Air France issued this statement:

  • The company’s first Airbus A220 has left the paint shop sporting the Air France livery,
  • This aircraft embodies the airline’s sustainability commitments with 20% less fuel used compared with the aircraft it is replacing and a 34% reduced noise footprint,
  • All the Air France crews are preparing to welcome this aircraft in September at Paris-Charles de Gaulle.

Air France is continuing to renew its fleet. At the end of September, the airline will take delivery of the first of the 60 Airbus A220-300s it has ordered to replace its Airbus A318s and A319s on the short and medium-haul network.

The first Airbus A220 designed for Air France recently left the Airbus paint shop in Mirabel, near Montreal. It sports the new Air France colors and notably features the winged seahorse, the airline’s historical symbol embodying its rich history, at the front of the fuselage.

As it is made with lighter composite materials, the Airbus A220 uses 20% less fuel than previous generation aircraft, and has a 34% reduced noise footprint. It will play a decisive role in achieving Air France’s sustainable development objectives, including a 50% reduction in CO2 emissions in absolute terms on the domestic network from Paris-Orly and on inter-regional routes by 2024 (1), and a 50% reduction in CO2 emissions per passenger/km by 2030(2).

Tests and crew training – flight safety of key importance in the preparation for the A220’s arrival

Before joining Paris to carry Air France customers, the aircraft will undergo a series of ground and in-flight tests. On its arrival, it will be used for more than a month to train the airline’s flight crews, some of whom began the so-called “type rating” process last summer.

As with every new type of aircraft entering the fleet, the company has set up two core groups, one made up of pilots and the other of flight attendants. These already qualified crew members will then be responsible for training their colleagues within the framework of in-house programs validated by the authorities.

Last September, eight instructor pilots attended an 8-week theoretical and practical training course at the Airbus training centre in Montreal. They are currently training their colleagues – including another 28 instructors who complete the pilot launch team – notably using a Full Flight Simulator (FFS) mounted on jacks, and assembled at Air France’s flight simulation centre at Paris-Charles de Gaulle. Once Air France takes delivery of the first aircraft, this simulator training will be supplemented by approximately 20 flights in real conditions, with a view to obtaining the A220-300 type rating. Close to 700 Air France pilots will eventually be qualified on this aircraft.

The same core group system is being used for cabin crews, with 14 flight attendants trained in Zurich between September and December 2020. They are currently finalizing the training manuals and content that they themselves will be responsible for providing as from September 2021. The core group has selected and trained a group of 37 flight attendants to complete the practical flight training of cabin crews as soon as the A220 enters service. Two A220 door models have been installed at the Air France Crew Academy at Paray Vieille-Poste, near Paris-Orly, to train some 2,500 flight attendants.

In addition to the pilots and flight attendants, the entire company is preparing to welcome the Airbus A220. From maintenance to station staff, all operational sectors are getting ready for the arrival of this latest-generation aircraft.

The Air France Airbus A220 will be able to welcome 148 passengers in a 3-2 cabin configuration. Each seat will be equipped with type A and type C USB ports and all passengers will enjoy Wi-Fi access from their personal devices.

Video:

flyadeal takes delivery of its first Airbus A320neo

flyadeal, the low-cost Jeddah-based airline owned by Saudi Arabian Airlines, has taken delivery of a brand new A320neo, the first out of 30 to be delivered in the next 3 years.

The aircraft is the first out of 65 A320neo family aircraft ordered by Saudi Arabian Airline at the Paris Airshow 2019, and will join flyadeal’s all Airbus fleet.

Powered by CFM LEAP-1A engines, the A320neo will offer flyadeal outstanding operational, economic and environmental performance.

flyadeal’s A320neo is configured with 186 seats in a comfortable all economy class layout. Passengers onboard the aircraft will benefit from the widest cabin of any single-aisle aircraft in the sky, as well as the latest cabin feature offering optimum passenger comfort.

The A320neo is the ideal aircraft for flyadeal to grow and expand its domestic and regional network. Demonstrating the operational flexibility of the A320neo, the aircraft will allow the airline to efficiently enhance its operations to additional networks and foster closer links with countries across the region and beyond.

The A320neo Family incorporates the very latest technologies including new generation engines, Sharklets and aerodynamics, which together deliver 20% in fuel savings and CO2 reduction compared to previous generation Airbus aircraft. The A320neo Family has received more than 7,400 orders from over 120 customers.

An Airbus A350 fueled by 100% SAF takes off

Airbus has made this announcement:

The study of sustainable aviation fuel (SAF)’s impact on the full scope of aircraft emissions has been few and far between. An Airbus-led project is looking to change that by conducting a series of flight and ground tests aimed at shedding light on the emissions performance of 100% SAF.

On a chilly but pleasant March day, an A350 moved into position, revved its jet engines and took off from the runway at Blagnac airport in Toulouse, France. But this was no ordinary flight: the test aircraft was fueled by 100% SAF.

Today, all Airbus aircraft are certified to fly with up to a 50% blend of SAF mixed with kerosene. But the emissions performance of SAF when unblended with any type of fossil fuel has remained a question mark across the industry—until now.

The Airbus-led Emission and Climate Impact of Alternative Fuels project, in collaboration with Rolls-Royce, German aerospace research centre DLR and oil refining company Neste, has set its sights on providing insight on that very question.

Videos:

Throughout the year, the project will test the emissions performance of 100% SAF on one engine of a Trent XWB-powered A350 test aircraft in the air and on the ground. It is the first in-flight study of its kind using a commercial passenger jet.

“SAF is one of the aviation industry’s best low-carbon solutions with an immediate impact on CO2 emissions today,” Steven Le Moing, Airbus New Energy Program Manager, says. “This research project will help us to better understand the impact of unblended SAF on the full scope of aircraft emissions, while supporting SAF’s future certification for blends that exceed today’s maximum of 50%.”

Ground tests will measure particulate emissions in local environments, while flight tests will assess the volume and consistency of contrails. Initial fuel clearance tests have already begun.

“The first flight went exceptionally well,” explains Emiliano Requena Esteban, Airbus Flight Test Engineer. “There’s no perceptible difference in engine behavior between jet fuel and SAF. It’s very exciting for me to contribute to a project that participates in the decarbonization of our skies!”

100% Sustainable fuel tests on A350MSN1 FlightLab.
SAF, ECLIF3, HEFA fuel.

The A350 test aircraft is refueled with 100% SAF before its first clearance test flight.

Understanding the SAF impact on aircraft emissions

The test flight, conducted on March 16, 2021, is the first in a series of clearance tests scheduled this month to analyze the safety of 100% SAF. Then, in April, DLR’s Falcon 20E “chase” aircraft equipped with a “sniffer” (i.e. sensors) will follow 50 metres behind the A350 test aircraft to measure the emissions directly from the SAF-fueled engine exhaust.

Indeed, over the past decade, SAF has demonstrated its efficacy in reducing CO2 emissions when used as a substitute for conventional or fossil-based jet fuel. However, little research has been carried out on how SAF can have a positive impact on other aircraft emissions. This means the industry can paint only half the picture of aviation’s overall climate impact.

“Decarbonizing aviation is not just about reducing CO2 emissions,” Steven explains. “At Airbus, our priority is to deal with the complete climate-impact challenge, which includes overall greenhouse gases and other aircraft emissions. Our decarbonization plan focuses on accelerating technology development to this end, in complement to a dynamic deployment of SAF.”

For this reason, the project will help to better analyze the impact of other climate-relevant emissions from aircraft engines, including:

  • Carbon monoxide (CO)
  • Nitrogen dioxide (NOx)
  • Water vapor
  • Soot
  • Aerosol and sulphate aerosol particles
  • Contrails and contrail cirrus clouds (i.e. clouds of ice crystals produced by aircraft engines at high altitude under certain meteorological conditions)

Unblended SAF of European origin

The 100% SAF is a key component of the research project. The series of flight and ground tests will compare findings from the unblended SAF mixture made from Hydroprocessed Esters and Fatty Acids (HEFA) against those of standard kerosene and low-sulphur kerosene. HEFA feedstock generally consists of globally sourced animal fat and used cooking oil, but locally sourced feedstock from specific regions can also be used. The feedstock supplied to Airbus for the project is of EU origin.

In addition, the 117 tonnes of neat SAF that will be used for the entire test campaign were entirely produced in Europe and supplied by Finland-based Neste. The SAF refining process was carried out at the company’s refinery in Porvoo, Finland. After refining, the SAF was then transported by ship to Rotterdam, where the final processing step, known as fractionation, took place. From Rotterdam, transportation via truck brought the SAF to Toulouse, France in ISO containers.

Initial results from the ground and flight tests are expected later in 2021 and more complete results in 2022. The Emission and Climate Impact of Alternative Fuels project, focused on SAF’s emissions performance, is one of several climate-impact programs that Airbus is currently leading with its partners in an effort to support significant reductions in aircraft emissions across the aviation industry in the decades to come.

Airbus updates A320 production rates in response to market environment

Airbus SE is updating its production rate planning for its A320 Family aircraft in response to the market environment.

The new average production rates for the A320 Family will now lead to a gradual increase in production from the current rate of 40 per month to 43 in Q3 and 45 in Q4 2021. This latest production plan represents a slower ramp up than the previously anticipated 47 aircraft per month from July.

The A220 monthly production rate will increase from four to five aircraft per month from the end of Q1 2021 as previously foreseen.

Wide body production is expected to remain stable at current levels, with monthly production rates of around five and two for the A350 and A330, respectively. This decision postpones a potential rate increase for the A350 to a later stage.

Airbus continues to monitor the market closely. With these revised rates, Airbus preserves its ability to meet customer demand while protecting its ability to further adapt as the global market evolves. Airbus expects the commercial aircraft market to return to pre-COVID levels by 2023 to 2025.

Airbus plans to further adapt to COVID-19 environment

Airbus has made this announcement:

Airbus (stock exchange symbol: AIR) has announced plans to adapt its global workforce and resize its commercial aircraft activity in response to the COVID-19 crisis. This adaptation is expected to result in a reduction of around 15,000 positions no later than summer 2021. The information and consultation process with social partners has begun with a view to reaching agreements for implementation starting in autumn 2020.

The commercial aircraft business activity has dropped by close to 40% in recent months as the industry faces an unprecedented crisis. Commercial aircraft production rates have been adapted accordingly. Airbus is grateful for the government support that has enabled the Company to limit these necessary adaptation measures. However with air traffic not expected to recover to pre-COVID levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures to reflect the post COVID-19 industry outlook.

Following the in-depth analysis of customer demand that has taken place over recent months, Airbus anticipates the need to adapt its global workforce due to COVID-19 by approximately:

  • 5,000 positions in France
  • 5,100 positions in Germany
  •    900 positions in Spain
  • 1,700 positions in the UK
  • 1,300 positions at Airbus’ other worldwide sites

These figures include the Airbus subsidiaries Stelia in France and Premium AEROTEC in Germany. However, they do not include approximately 900 positions stemming from a pre-COVID-19 identified need to restructure Premium AEROTEC in Germany, which will now be implemented within the frame of this global adaptation plan.

The details of this COVID-19 adaptation plan need to be finalised with social partners.

While compulsory actions cannot be ruled out at this stage, Airbus will work with its social partners to limit the impact of this plan by relying on all available social measures, including voluntary departures, early retirement, and long term partial unemployment schemes where appropriate.

“Airbus is facing the gravest crisis this industry has ever experienced,” said Airbus CEO Guillaume Faury. “The measures we have taken so far have enabled us to absorb the initial shock of this global pandemic. Now, we must ensure that we can sustain our enterprise and emerge from the crisis as a healthy, global aerospace leader, adjusting to the overwhelming challenges of our customers. To confront that reality, we must now adopt more far-reaching measures. Our management team and our Board of Directors are fully committed to limiting the social impact of this adaptation. We thank our governmental partners as they help us preserve our expertise and know-how as much as possible and have played an important role in limiting the social impact of this crisis in our industry. The Airbus teams and their skills and competences will enable us to pursue our ambition to pioneer a sustainable future for aerospace.”

Airbus delivers 566 aircraft in 2020, down 34%

  • 566 commercial aircraft deliveries, 34 percent fewer than in 2019, in line with adaptation plan
  • 383 new aircraft orders, 268 net orders, 7,184 aircraft in backlog 

 

Airbus SE delivered 566 commercial aircraft to 87 customers in 2020, in line with the production adaptation plan set out in April 2020 in response to the COVID-19 pandemic.

In 2020, deliveries comprised:

  2020 (including) 2019 (including)
A220 Family 38   48  
A320 Family 446 (431 NEO) 642 (551 NEO)
A330 Family 19 (13 NEO) 53 (41 NEO)
A350 Family 59 (14 A350-1000) 112 (25 A350-1000)
A380 4   8  

In order to overcome international travel restrictions, the Airbus team developed an innovative e-delivery solution which represented more than 25% of the 2020 deliveries, allowing customers to receive their aircraft while minimizing the need for their teams to travel.

In 2020, Airbus recorded a total of 383 new orders, 268 net orders, showing continued  customer endorsements in all market segments. The A220 won 64 new orders, confirming it as the leading aircraft in its category. The A320 Family won 296 new orders including 37 A321XLR. In the wide body segment, Airbus won 23 new orders including two A330s and 21 A350s. After 115 cancellations by the end of 2020, Airbus’ backlog stood at 7,184 aircraft.

Airbus will report Full Year 2020 financial results on February 18, 2021.

Airbus reveals new zero-emission concept aircraft

Airbus has revealed three concepts for the world’s first zero-emission commercial aircraft which could enter service by 2035. These concepts each represent a different approach to achieving zero-emission flight, exploring various technology pathways and aerodynamic configurations in order to support the Company’s ambition of leading the way in the decarbonisation of the entire aviation industry.

All of these concepts rely on hydrogen as a primary power source – an option which Airbus believes holds exceptional promise as a clean aviation fuel and is likely to be a solution for aerospace and many other industries to meet their climate-neutral targets.

“This is a historic moment for the commercial aviation sector as a whole and we intend to play a leading role in the most important transition this industry has ever seen. The concepts we unveil today offer the world a glimpse of our ambition to drive a bold vision for the future of zero-emission flight,” said Guillaume Faury, Airbus CEO. “I strongly believe that the use of hydrogen – both in synthetic fuels and as a primary power source for commercial aircraft – has the potential to significantly reduce aviation’s climate impact.”

The three concepts – all codenamed “ZEROe” – for a first climate neutral zero-emission commercial aircraft include:

 

A turbofan design (120-200 passengers) with a range of 2,000+ nautical miles, capable of operating transcontinentally and powered by a modified gas-turbine engine running on hydrogen, rather than jet fuel, through combustion. The liquid hydrogen will be stored and distributed via tanks located behind the rear pressure bulkhead.

 

 

 

A turboprop design (up to 100 passengers) using a turboprop engine instead of a turbofan and also powered by hydrogen combustion in modified gas-turbine engines, which would be capable of traveling more than 1,000 nautical miles, making it a perfect option for short-haul trips.

 

A “blended-wing body” design (up to 200 passengers) concept in which the wings merge with the main body of the aircraft with a range similar to that of the turbofan concept. The exceptionally wide fuselage opens up multiple options for hydrogen storage and distribution, and for cabin layout.

“These concepts will help us explore and mature the design and layout of the world’s first climate-neutral, zero-emission commercial aircraft, which we aim to put into service by 2035,” said Guillaume Faury. “The transition to hydrogen, as the primary power source for these concept planes, will require decisive action from the entire aviation ecosystem. Together with the support from government and industrial partners we can rise up to this challenge to scale-up renewable energy and hydrogen for the sustainable future of the aviation industry.”

In order to tackle these challenges, airports will require significant hydrogen transport and refueling infrastructure to meet the needs of day-to-day operations. Support from governments will be key to meet these ambitious objectives with increased funding for research & technology, digitalisation, and mechanisms that encourage the use of sustainable fuels and the renewal of aircraft fleets to allow airlines to retire older, less environmentally friendly aircraft earlier.

Note to editors: To evaluate and validate these new concept aircraft and assess whether they could be matured into viable future products, Airbus will be focusing its efforts on a number of technological pathways. Grazia Vittadini, Chief Technology Officer, Jean-Brice Dumont, EVP Engineering and Glenn Llewellyn, VP Head of Zero Emission Aircraft, will reveal Airbus’ technology roadmap for 2020-2025 at 14:00 CEST, 21 September 2020 during a virtual event on Airbus social media channels.

Airbus reports a EBIT €1.6 billion loss in the second quarter

Airbus issued this second quarter financial report:

  • Industrial system adjusted to new production levels, cash containment and business resizing on track
  • H1 financials reflect COVID-19 impact mitigated by adaptation measures 
  • Revenues € 18.9 billion; EBIT Adjusted € -0.9 billion, including € -0.9 billion COVID-19 related charges
  • EBIT (reported) € -1.6 billion; loss per share (reported) € -2.45
  • Free cash flow before M&A and customer financing € -12.4 billion, € -4.4 billion in Q2
  • Strong liquidity underpins business resilience and flexibility

 

Airbus SE reported consolidated financial results for the Half-Year (H1) ended June 30, 2020.

“The impact of the COVID-19 pandemic on our financials is now very visible in the second quarter, with H1 commercial aircraft deliveries halving compared to a year ago,” said Airbus Chief Executive Officer Guillaume Faury. “We have calibrated the business to face the new market environment on an industrial basis and the supply chain is now working in line with the new plan. It is our ambition to not consume cash before M&A and customer financing in H2 2020. We face a difficult situation with uncertainty ahead, but with the decisions we have taken, we believe we are adequately positioned to navigate these challenging times in our industry.”

Net commercial aircraft orders totalled 298 (H1 2019: 88 aircraft), including 8 aircraft in Q2, with the order backlog comprising 7,584 commercial aircraft as of 30 June 2020. Airbus Helicopters booked 75 net orders (H1 2019: 123 units), including 3 H145s, 1 Super Puma and 1 H160 during the second quarter alone. Airbus Defence and Space’s order intake increased to € 5.6 billion.

Consolidated revenues decreased to € 18.9 billion (H1 2019: € 30.9 billion), driven by the difficult market environment impacting the commercial aircraft business with around 50% fewer deliveries year-on-year. This was partly offset by more favourable foreign exchange rates. A total of 196 commercial aircraft were delivered (H1 2019: 389 aircraft), comprising 11 A220s, 157 A320 Family, 5 A330s and 23 A350s. Airbus Helicopters reported stable revenues, reflecting lower deliveries of 104 units (H1 2019: 143 units) partially compensated by higher services. Revenues at Airbus Defence and Space were impacted by lower volume and mix, in particular at Space Systems, as well as delays in some programmes caused by the COVID-19 situation.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – totalled € -945 million (H1 2019: € 2,529 million).

Airbus’ EBIT Adjusted of € -1,307 million (H1 2019: € 2,193 million(1)) mainly reflected the reduced commercial aircraft deliveries and lower cost efficiency. Steps have been taken to adapt the cost structure to the new levels of production, the benefits of which are materialising as the plan is executed. Also included in the EBIT Adjusted is € -0.9 billion of COVID-19 related charges.

Commercial aircraft are now being produced at rates in accordance with the new production plan announced in April 2020, in response to the COVID-19 situation. The current market situation has led to a slight adjustment in the A350 rate from 6 to 5 aircraft a month for now. On the A220, the Final Assembly Line (FAL) in Mirabel, Canada, is expected to progressively return to pre-COVID levels at rate 4 while the new FAL in Mobile, US, opened as planned in May. At the end of June, around 145 commercial aircraft could not be delivered due to COVID-19.

Airbus Helicopters’ EBIT Adjusted increased to € 152 million (H1 2019: € 125 million), reflecting a favourable mix, mainly in military, and higher services partially offset by the lower deliveries. The five-bladed H145 and H160 helicopters were recently certified by the European Union Aviation Safety Agency.

EBIT Adjusted at Airbus Defence and Space decreased to € 186 million (H1 2019: € 233 million), reflecting the COVID-19 impact, mainly in Space Systems, partly offset by cost reduction measures. The Division’s restructuring plan was updated to also reflect the impact of the coronavirus pandemic.

Three A400M transport aircraft were delivered in H1 2020. The certification of automatic low-level flight capability and simultaneous paratrooper dispatch were achieved in H1 2020, marking major milestones towards the aircraft’s full development. A400M retrofit activities are progressing in close alignment with customers.

Consolidated self-financed R&D expenses totalled € 1,396 million (H1 2019: € 1,423 million).

Consolidated EBIT (reported) was € -1,559 million (H1 2019: € 2,093 million), including Adjustments totalling a net € -614 million. These Adjustments comprised:

  • € -332 million related to A380 programme cost, of which € -299 million was in Q2;
  • € -165 million related to the dollar pre-delivery payment mismatch and balance sheet  valuation, of which € -31 million was in Q2;
  • € -117 million of other costs, including compliance, of which € -82 million was in Q2.

The consolidated reported loss per share of € -2.45 (H1 2019 earnings per share: € 1.54) includes the financial result of € -429 million (H1 2019: € -215 million). The financial result reflects a net € -212 million related to Dassault Aviation as well as the impairment of a loan to OneWeb, recorded in Q1 2020 for an amount of € -136 million. The consolidated net loss(2) was € -1,919 million (H1 2019 net income: € 1,197 million).

Consolidated free cash flow before M&A and customer financing amounted to € -12,440 million (H1 2019: € -3,981 million) of which € -4.4 billion was in Q2. The corresponding figure for Q1 2020 excluding the penalty payments – related to January’s compliance settlement with the authorities – was also at € -4.4 billion, demonstrating that cash containment measures including the adjustment of incoming supply started to become effective. These measures partially compensated for the reduced cash inflow from the low number of commercial aircraft deliveries in Q2.

Capital expenditure in H1 was stable year-on-year at around € 0.9 billion with Full-Year 2020 capex still expected to be around € 1.9 billion.  Consolidated free cash flowwas € -12,876 million (H1 2019: € -4,116 million). The consolidated net debt position was € -586 million on 30 June 2020 (year-end 2019 net cash position: € 12.5 billion) with a gross cash position of € 17.5 billion (year-end 2019: € 22.7 billion).

The Company’s Full-Year 2020 guidance was withdrawn in March. The impact of COVID-19 on the business continues to be assessed and given the limited visibility, in particular with respect to the delivery situation, no new guidance is issued.

 

Key post-closing events
In the frame of COVID-19, discussions are progressing with social partners. A restructuring provision is expected to be recognised once the necessary conditions are fulfilled. The amount is expected to be between € 1.2 billion and  € 1.6 billion.

The UK Serious Fraud Office (SFO) has requisitioned GPT Special Project Management Ltd (GPT) to appear in court for prosecution on a single corruption-related charge. GPT is a UK company that operated in Saudi Arabia which was acquired by Airbus in 2007 and ceased operations in April 2020. The SFO’s investigation related to contractual arrangements originating prior to GPT’s acquisition and continuing thereafter. A resolution of GPT, whatever its form, will not affect the 31 January 2020 UK Deferred Prosecution Agreement and a value has been provisioned in the Airbus accounts(3).

On 24 July 2020, the Company announced it had agreed with the governments of France and Spain to make amendments to the A350 Repayable Launch Investment (RLI) contracts to end the long-standing World Trade Organisation (WTO) dispute and remove any justification for US tariffs. After 16 years of litigation at the WTO, this final step removes the last contentious point by amending the French and Spanish contracts to what the WTO considers the appropriate interest rate and risk assessment benchmarks(3).

 

Note to editors: Live Webcast of the Analyst Conference Call
At 08:15 CEST on 30 July 2020, you can listen to the H1 2020 Results Analyst Conference Call with Chief Executive Officer Guillaume Faury and Chief Financial Officer Dominik Asam via the Airbus website. The analyst call presentation can also be found on the company website. A recording will be made available in due course. For a reconciliation of Airbus’ KPIs to “reported IFRS” please refer to the analyst presentation.

 

Airbus Consolidated – Half-Year (H1) Results 2020

(Amounts in Euro)

Consolidated Airbus H1 2020 H1 2019 Change
Revenues, in millions

thereof defence, in millions

18,948

4,092

30,866

4,085

-39%

0%

EBIT Adjusted, in millions -945 2,529
EBIT (reported), in millions -1,559 2,093
Research & Development expenses, in millions 1,396 1,423 -2%
Net Income/Loss(2), in millions -1,919 1,197
Earnings/Loss Per Share  -2.45 1.54
Free Cash Flow (FCF), in millions -12,876 -4,116
Free Cash Flow before M&A, in millions -12,373 -3,998
Free Cash Flow before M&A and Customer Financing, in millions -12,440 -3,981
Consolidated Airbus 30 June 2020 31 Dec 2019 Change
Net Cash/Debt position, in millions -586 12,534
Employees 135,154 134,931 0%
By Business Segment Revenues EBIT (reported)
(Amounts in millions of Euro) H1 2020 H1 2019 (1) Change H1 2020 H1 2019 (1) Change
Airbus 12,533 24,043 -48% -1,808 2,006
Airbus Helicopters 2,333 2,371 -2% 152 124 +23%
Airbus Defence and Space 4,551 5,015 -9% 73 -15
Eliminations -469 -563 24 -22
Total 18,948 30,866 -39% -1,559 2,093
By Business Segment EBIT Adjusted
(Amounts in millions of Euro) H1 2020 H1 2019 (1) Change
Airbus -1,307 2,193
Airbus Helicopters 152 125 +22%
Airbus Defence and Space 186 233 -20%
Eliminations 24 -22
Total -945 2,529
By Business Segment Order Intake (net) Order Book
H1 2020 H1 2019 Change 30 June 2020 30 June 2019 Change
Airbus, in units 298 88 +239% 7,584 7,276 +4%
Airbus Helicopters, in units 75 123 -39% 666 697 -4%
Airbus Defence and Space, in millions of Euro 5,588 4,220 +32% N/A N/A N/A
Airbus Consolidated – Second Quarter (Q2) Results 2020

(Amounts in Euro)

Consolidated Airbus Q2 2020 Q2 2019 Change
Revenues, in millions 8,317 18,317 -55%
EBIT Adjusted, in millions -1,226 1,980
EBIT (reported), in millions -1,638 1,912
Net Income/Loss(2), in millions -1,438 1,157
Earnings/Loss Per Share (EPS) -1.84 1.49
By Business Segment Revenues EBIT (reported)
(Amounts in millions of Euro) Q2 2020 Q2 2019 (1) Change Q2 2020 Q2 2019 (1) Change
Airbus 4,964 14,346 -65% -1,865 1,687
Airbus Helicopters 1,131 1,364 -17% 99 115 -14%
Airbus Defence and Space 2,440 2,903 -16% 126 102 +24%
Eliminations -218 -296 2 8 -75%
Total 8,317 18,317 -55% -1,638 1,912
By Business Segment EBIT Adjusted
(Amounts in millions of Euro) Q2 2020 Q2 2019 (1) Change
Airbus -1,498 1,730
Airbus Helicopters 99 110 -10%
Airbus Defence and Space 171 132 +30%
Eliminations 2 8 -75%
Total -1,226 1,980

Q2 2020 revenues decreased by 55%, mainly driven by lower deliveries at Airbus and Airbus Helicopters, and lower revenues at Airbus Defence and Space.

Q2 2020 EBIT Adjusted of € -1,226 million reflected low commercial aircraft deliveries and COVID-19 related charges.

Q2 2020 EBIT (reported) of € -1,638 million included net Adjustments of € -412 million. Net Adjustments in the second quarter of 2019 amounted to € -68 million.

Q2 2020 Net Loss of € -1,438 million mainly reflected EBIT (reported) and the low effective tax rate.

 

 

EBIT (reported) / EBIT Adjusted Reconciliation

The table below reconciles EBIT (reported) with EBIT Adjusted.

Consolidated Airbus (Amounts in millions of Euro) H1 2020
EBIT (reported) -1,559
thereof:
A380 programme cost -332
$ PDP mismatch/balance sheet revaluation -165
Others -117
EBIT Adjusted -945