Airbus Cautious on 2021 After Cementing Cash Flow Turnaround
- Jet-delivery forecast flat despite production ramp-up plan
- Shares fall as CEO highlights weakness in first-half demand
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Airbus SE generated 4.9 billion euros ($5.9 billion) in cash during the fourth quarter, while issuing cautious guidance on the pace of its recovery from aviation’s worst-ever crisis.
The European planemaker rode a December flurry of jet deliveries to beat its target to break even for a second straight quarter, based on adjusted free cash flow. Yet jet handovers are forecast to stay at 2020’s depressed levels this year, even as Airbus plans to ramp up production in the second half.