World Economy

Airbus Profit Down 21%

Airbus Profit Down 21%Airbus Profit Down 21%

Airbus Group SE’s third-quarter profit tumbled 21% as the jetliner manufacturer spent money addressing production delays to its latest wide-body model, fell behind on single-aisle deliveries and suffered a drop in helicopter sales, Bloomberg reported. Earnings before interest and tax excluding one-time items slumped to €731 million ($796 million) from €921 million a year earlier, Toulouse, France-based Airbus said in a statement Wednesday. Analysts had forecast a figure of €735 million, the average of eight estimates. Airbus maintained its guidance for 12-month earnings matching 2015’s level as it increases spending to achieve 50 A350 deliveries this year, having handed over just 26 in the first nine months.

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