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On Tuesday, European aviation company, Airbus (AIR.PA) said that it would delay its $10 billion worth of services business amid the coronavirus pandemic. However, the company would continue its strategic support for airline operations.
“It is postponing the ambition a little in terms of timing, but the strategy is still relevant. We still think developing services makes sense. It is still a scale we can look for, but it is a question of timing and how this crisis will transform our industry. It’s too early to say, ” Airbus’s Executive Vice-President Programmes and Services Philippe Mhun said in an interview.
Airbus said that the company would increase services revenues to $10 billion in ten years compared with its $4 billion in 2019.
According to the airline, the global travel demand was severely affected by the coronavirus crisis while the company’s sales for aircraft spare parts and maintenance data-crunching services declined in 2020.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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