Ah yes. This is the time when large companies and corporations break out the tissues and start coming up with the sob stories of how they're on the verge of collapse after a 10 year run of record profits just to see what juicy 'rescue package' they can get from their government.
2008 all over again.
I disagee. Corona isn't the fault of Airbus. Gambling losses were the fault of banks or better politicians changing rules.
At the end of financial year 2016 Airbus had 3,6 billion Euro equity and 107,4 billion Euro liabilities.
At the end of financial year 2017 Airbus had 13,4 billion Euro equity and 100,6 billion Euro liabilities.
At the end of financial year 2018 Airbus had 9,7 billion Euro equity and 105,5 billion Euro liabilities.
At the end of financial year 2019 Airbus had 6 billion Euro equity and 108,4 billion Euro liabilities.
2017 had 2,9 billion Euro normal profits and 10,6 billion Euro change in fair value of cash flow hedges, I believe that refers to their currency derivatives. Total comprehensive income was 10,6 billion Euro. Equity in this year improved from 3,7 to 13,3 billion Euro.
I'm confused. The annual report of 2017 states equity of 2017 with 13,4 billion Euro, while the annual report 2018 states the 2017 equity as 10,7 billion Euro.
Anyway 2017 1 billion Euro and 2018 1,2 billion Euro was distributed to shareholders.
Airbus used it's huge 2017 profit to increase equity. It's not 2008 all over again.
Airbus is not exactly a lucky company. A340 didn't get the promised engines. A380 was a wrong decision. A400 didn't work out as desired.
At least their products now are good and most of development expenses and early production losses are behind them.