PARIS: European aircraft maker Airbus said Thursday that one-off charges related to the deep job cuts announced earlier this year pushed it deep into the red in the third quarter. Airbus said in a statement that it booked a net loss of 767 million euros ($900 million) in the period from July to September, compared with profit of 989 million euros a year earlier.

Operating or underlying profit fell by 49 percent to 820 million euros and revenues declined by 27 percent to 11.2 billion euros, the statement said.

Earnings were hit by a restructuring charge of 1.2 billion euros related to the decision to axe 15,000 jobs.

With global air traffic not expected to return to 2019 levels until 2023 or 2025, Airbus said it had scaled down the rate of production of its A320, A220, A330 and A350 planes.—AFP