Airbus profits fall due to continuing technical difficulties

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Airbus has warned of the continuing technical problems its facing with its A400M military aircraft programme.

Airbus says there are problems over “meeting contractual capabilities” securing export orders, cost cutting, and commercial exposure.

As well as this, technical problems with engines for its new A320neo aircraft are yet to be sorted.

The firm has posted its quarterly figures which show a 52 per cent fall in net profits to 240m euros (£203m).

Total revenues for the three-month period rose seven per cent to 13bn euros. The firm also said its on track to deliver 700 commercial aircraft during the course of 2017.

Tom Enders, Airbus chief executive, said: “New order activity was low in Q1 as predicted but let’s not forget that our strong order book of over 6,700 commercial aircraft supports our ongoing production ramp-up. Programme execution remains key for all our businesses,”