Saturday 16 December 2017

Airbus Group profits in line, raises A330 output goal

An airplane approaches London Heathrow. Photo: Deposit
An airplane approaches London Heathrow. Photo: Deposit

Tim Hepher

Airbus Group posted 2015 profit in line with forecasts on Wednesday and announced plans to reverse part of a planned production cut of A330 aircraft due to stronger-than-expected demand.

Europe's largest aerospace group said operating earnings before one-off items, a measure of underlying performance, rose 2pc to €4.132bn ($4.55bn) as revenue gained 6pc to 464.450bn.

Analysts were on average predicting full-year core operating income of €4.114bn on revenue of €64.736bn, according to a Reuters poll.

Airbus said it would produce seven A330 aircraft a month from 2017. A year ago, it announced plans to cut output of the wide-body jet to six a month from the first quarter of 2016, compared with its plan at the time to produce nine a month.

Reuters

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