Europe’s Airbus announced a new cut in production of its marquee A350 jet on Thursday as it swung to a larger-than-expected second-quarter loss in the face of the global pandemic.
But boosting its shares, the planemaker also said it hoped to avoid consuming cash in the second half of the year after a smaller-than-expected second-quarter outflow of 4.4 billion euros as deliveries tumbled due to the coronavirus crisis.
“We believe it is going to be a long and slow recovery,” Chief Executive Guillaume Faury told reporters, adding that travel was picking up but more slowly than previously expected.
