Kaiser cuts 2020 revenue forecast on difficult aerospace industry conditions

Kaiser Aluminum has cut its forecast for revenue from commercial aerospace this year amid a sharp decline in air travel due to the Covid-19 pandemic and a knock-on effect throughout that industry.

The US aluminium producer, deemed an essential business in that country, anticipates that its commercial aerospace value-added revenue could be roughly 20-25% lower in 2020 compared with record levels last year.
Under normal market conditions, commercial aerospace represents roughly 33% of Kaiser’s consolidated value-added revenue. In 2019, the company reported 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.

“Since late February 2020, global air travel has slowed dramatically as a result...

Published

Andrea Hotter

April 20, 2020

14:43 GMT

New York