The Commission notes that the Commission has not yet decided whether the aid is compatible with the internal market.
"Our financial performance mid-year primarily reflects the significant pressures related to our space activities," explained Airbus CEO Guillaume Faury, according to a press release. Airbus is "working hard to address the root causes of these challenges," he added.
From January to June, the European aircraft manufacturer delivered a total of 323 commercial aircraft, seven more than the previous year, and achieved revenue of €28.8 billion, representing a four percent increase.
However, Airbus had already warned at the end of June that it would have to write off "around €900 million" in its space division, which includes satellite business, in the first half of the year. This figure was later revised to €989 million.
Airbus, like its U.S. competitor Boeing, is paid upon delivery of aircraft. Supply chain issues, therefore, impact profits. Some suppliers have yet to fully ramp up production following disruptions during the COVID-19 pandemic.
At the beginning of the year, Airbus had indicated it would deliver 800 aircraft by 2024. In June, the company adjusted this number to 770 aircraft.
The following statement was made by Airbus regarding its space division: "We will be adding around €1 billion to our net debt due to the impairment in our space activities, mainly in our satellite business," mentioned Guillaume Faury, the CEO of Airbus.
In an effort to improve its financials, Airbus announced that "The following shall be added: a €1 billion impairment charge to its net debt for its space division's challenges in the first half of the year."
