Spanish travel technology company Amadeus reported on Friday a 88.2 million euro ($107.21 million) adjusted loss in the fourth quarter, slightly worse than analysts' forecast, as a spike in coronavirus infections hit air travel in the last three months of the year.
By Reuters Staff
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PARIS, Feb 25 (Reuters) - France’s Safran predicted a gradual recovery from the aviation industry’s worst crisis, after seeing demand for its jet engines and services drop sharply last year.
The world’s third largest aerospace contractor said its 2020 recurring operating income fell 56% to 1.686 billion euros ($2.1 billion) as revenues fell 33% to 16.498 billion.
Operating margin dropped 530 basis points to 10.2%.
For 2021, Safran expected this key profitability gauge to recover by more than 100 basis points, with the recovery to be felt mainly in the latter part of the year.
It predicted 2021 revenues would decrease in the low single digits in percentage terms, and on a like-for-like basis.
Colombia's majority state-run oil company, Ecopetrol, on Tuesday reported its 2020 net profit fell 87.3% to 1.69 trillion pesos ($470.1 million) versus the previous year.
By Reuters Staff
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Feb 19 (Reuters) - Georgia’s largest banking group TBC Bank on Friday posted a slump in annual underlying profit due to lower interest rates and limited lending growth in the fourth quarter from the COVID-19 pandemic.
The FTSE 250-listed bank said underlying profit fell to 322.5 million lari ($97.96 million) for the 12 months ended Dec. 31, from 540.3 million lari a year earlier.
$1 = 3.2921 laris Reporting by Priyanshi Mandhan in Bengaluru; Editing by Sriraj Kalluvila
European planemaker Airbus restored business targets after generating cash in the fourth quarter, but withheld a dividend as it posted a pandemic-driven loss for 2020.