The “COVID-19” crisis: Kaiser Aluminum predicts fall in value-added revenue from the airlines sector
Kaiser Aluminium the American aluminium producer slashes its 2020 revenue forecast from the airline industry.
The aluminium company has dropped its forecast for revenue from the commercial airline industry this year as a sharp decline in air travel due to the COVID-19 pandemic and a slip down effect across the industry.
The US aluminium firm is considered as an essential business organisation in the country. It forecast that its commercial aerospace value-added revenue might fall approx. 20-25% in 2020 compared with record levels last year.
During the normal market scenario, commercial aerospace denotes roughly 33% of Kaiser’s consolidated value-added revenue. In 2019, the company reported a value-added revenue of $856 million.
Kaiser produces value-added plate, sheet and extruded products for aerospace, automotive and industrial applications at 12 facilities across North America.
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