Airbus SE, the European aircraft manufacturer, has reportedly announced its highest-ever profits as well as the restoration to paying dividends to shareholders, heralding the aerospace sector's blooming comeback from the Covid-19 pandemic. In comparison to a harsh €1.1 billion loss in 2020, when the pandemic first struck, the European aircraft manufacturer announced a record net profit of €4.2 billion (£3.5 billion) in 2021. The corporation, based in Toulouse, France, generated over €52 billion in revenue in 2021, up from €50 billion in 2020. The European aircraft manufacturer stated that it production is expected to be raised to 720 planes during 2022, assuming that there are no more disruptions to the world economy, aviation traffic, or internal failures. Reports claim, Airbus did not increase its A320 production target beyond the 65 previously declared, but said it was in talks with suppliers about increasing the rate.

Source: The Guardian February 19, 2022 04:48 UTC