Airbus has slumped to a €1.4bn (£1.17bn) annual loss after receiving record fines for bribery, but raised its dividend as aircraft deliveries hit an all-time high.
The European aerospace group’s 2019 loss contrasts with a net profit of €3.1bn the previous year.
The Toulouse-based company had to set aside €3.6bn last month to cover settlements with authorities in the US, France and Britain after admitting it had paid huge bribes on an “endemic” basis to secure contracts in 20 countries. The penalties amount to the largest-ever corporate fine issued for bribery.
Airbus also lost €1.2bn last year due to problems with its A400M military transport programme, and a further €221m because the German government extended a ban on export licences to Saudi Arabia through March.
However, revenues climbed 11% to €70.5bn last year, and Airbus said it would pay a dividend of €1.80 a share, up 9%. It delivered a record 863 commercial planes in 2019, up from 800 in 2018, including 112 A350s and 642 A320s. The group expects deliveries to rise further this year, to 880 commercial aircraft.
Airbus boosted orders to 768 last year as its main rival, Boeing, struggled following the grounding of the 737 Max jet after two crashes killed 346 people. The US firm lost orders last year for the first time in three decades and delivered only 380 commercial airplanes.