A few things. A220 program is expected to loose money this year again. Breakeven is only anticipated in 2025. That’s when a220 is up to 14 per month iirc. So for how airbus does its investment, significant capex and mounting losses happen until things turn around.
B787 was losing money for many years until it turned things around.
so c919 losing money for a few years is expected. Each new factory will require significant capex that take several years to depreciate. That is fine.
it would be very hard for me to believe that they cannot be profitable once production goes up to like 10 per month. Aerospace company make a lot of money on not necessarily the sale itself but the post sales servicing. So the key to profitability is just selling enough of them.
if we go back to sales prospects, China market alone (assuming comac gets 50% market share) can probably support c919 program but they will clearly sell beyond that. ASEAN is an obvious market. They can trade orders for precious landing slots and/or additional operating frequencies at key airport (idk open sky status between China and its neighbors). ASEAN is a huge and growing market. So is Middle East. They can seek to Russia, west Asia, Central Asia. Frankly, Europe is not the largest aerospace market going forward and we shouldn’t treat them as such.