Airbus’s £2.5 billion loss

AIRBUS racked up a £2.5bn loss in the first nine months of the year as it was battered by the effects of the Covid crisis.

The plane maker warned the recovery of global air travel has been slower than expected – hampered by travel quarantines and a resurgence in the virus.

Air travel was virtually wiped out during the most intense period of lockdowns and it is still down significantly – meaning airlines are reluctant to buy or receive new jets.

Revenue at Airbus, which makes the wings for all its planes in the UK, fell by 35pc as deliveries of new aircraft slowed.

The firm is laying off 15,000 of its 134,000-strong workforce by the end of 2022.