29 FEBRUARY 2016

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Article from BTNews 29 FEBRUARY 2016

Airbus Group results

Airbus said 2015 profits rose slightly but it still had problems with its military aircraft production line in Seville.  Operating earnings before one-off items rose 2% to €4.13bn as revenue gained 6% to €64.45bn.

The European aerospace conglomerate said it now planned to build seven A330s per month from 2017, partially unwinding recent announced cuts in output to six from 10 a month as it prepares to boost A350 production.

Airbus said plans for a steep increase in A350 output remained challenging, and confirmed delays to the A320neo, whose deliveries will be weighted towards the second half of 2016 following problems with Pratt & Whitney engines. 

Akbar Al Baker, CEO of Qatar Airways, was critical of Pratt at the Singapore Airshow but Tom Enders of Airbus, shrugging his shoulders, backed the US company's recently reshuffled management and said "much improved" engines would be delivered from mid-year.

Airbus also indicated a lingering risk with the A400M military transporter as it negotiates with European nations over recent delays and shortfalls in capability. www.airbus.com

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