Home Business NewsBusinessBusiness Growth News Airbus shares rise as trading results show higher profits

Airbus shares rise as trading results show higher profits

15th Feb 18 10:40 am

Airbus took a new €1.3bn hit on its A400M transport plane

Shares in Airbus climbed nearly 8 per cent after the group reported a profit of £1bn ($1.25bn) in the fourth quarter, from a loss of €816m a year earlier. Meanehile, revenue was stable at around €66.8bn.

Analysts said the positive reaction to higher earnings had helped “offset” the aerospace group’s latest charge for its military transport plane. Airbus has reportedly taken a €1.3bn (£1.2bn) charge on its troubled A400M military transport plane, bringing total charges on the project to more than €8bn.

Last week, Airbus reached a provisional agreement with seven European NATO buyer countries over further delays in deliveries for the A400M.

Airbus chief executive Tom Enders told media that the group had outperformed its own internal targets after delivering a record number of passenger jets in the final months of 2017. 

“We overachieved on all our 2017 key performance indicators thanks to a very good operational performance, especially in the last quarter,” he said, adding: “Despite persistent engine issues on the A320neo, we continued the production ramp-up and finally delivered a record number of aircraft.”

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