The two big companies that dominate the commercial aircraft industry have both recently reported huge losses, with shutdowns, lost sales and order cancellations and delays responsible for most of the loss.
Boeing recently announced third-quarter losses of $400 million, compared to a $1.26 billion profit in the same period last year; even that result was less happy than earlier expected because of the 737 Max grounding. Airbus is looking, it appears, at even deeper losses: It has reported nine-month losses in 2020 of €2.7 billion compared to last year’s €2.2 billion profit.
Both manufacturers have undelivered planes on hand, have gotten fewer orders, and are facing airline requests to either cancel or delay deliveries until the airlines begin to recover; they are hoping an end to the pandemic will bring a revival in air traffic.
The troubles of the airline industry in 2020s twin headwinds of travel restrictions and economic recession have been better publicized, at least in part because they’ve been out on street corners, begging governments for aid.
