for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Airbus sets quarterly cash goal, takes heavy restructuring charge

PARIS, Oct 29 (Reuters) - Airbus said on Thursday it expected to reach cash breakeven in the fourth quarter, setting the first forward-looking target since the start of the coronavirus crisis after managing to stop bleeding cash in the third quarter.

The European planemaker, which is slashing jobs to cope with collapsing air travel demand, also took a 1.2-billion-euro ($1.42 billion) restructuring charge after reporting an underlying 820-million-euro operating profit for the third quarter. ($1 = 0.8461 euros) (Reporting by Tim Hepher, Editing by Sarah White)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up