Airbus lost $1.3 billion amid pandemic; expects better 2021

PARIS (AP) — European plane maker Airbus lost more than $1.3 billion in 2020 amid an unprecedented global slump in air travel because of the pandemic. But the company expects to deliver hundreds of planes and make a profit this year. The CEO acknowledged Thursday that the company’s performance last year was “far from expectations.” But he said it managed to quickly adapt as airlines grounded planes or folded altogether because of travel restrictions. He warned that 2021 will be “another challenging year” and said Airbus still doesn’t expect the industry to recovery to pre-pandemic levels until 2023-2025. Airbus orders and deliveries in 2020 were well above those of U.S. rival Boeing.