European aircraft manufacturer Airbus (OTCMKTS: EADSY) received four orders in July compared to 33 last year as airlines downsize and rein in capital expenses to survive the travel fallout from the coronavirus pandemic.
Year-to-date through July, orders at Airbus are down by half. The airframer said it received 302 net orders after customers canceled orders for 67 aircraft. In 2019, the aircraft manufacturer had 768 net orders.
Most of the airplanes ordered were mid-range, single-aisle planes such as the A320/321 (neo).
In July, the Leiden, Netherlands-based company delivered two A220-300 to Air Canada and Egypt Air and 47 A320neo aircraft including a first A321neo to Middle East Airlines and Vistara through Air Lease Corp.
Airbus’ total backlog of aircraft for delivery as of July 31 stood at 7,539.
In 2019, Airbus delivered 863 new planes to 99 customers, with the majority (786) part of the A320neo series. Last year marked the 17th consecutive year of production increases.
Airbus competitor Boeing (NYSE: BA) also reported steep declines in new aircraft deliveries for the first half of 2020. The Chicago-based company delivered 70 planes during the first half of the year, compared to 239 for the same six-month period last year.