Airbus cuts production of the A330, first-quarter profits capped by engine delays

PARIS (Reuters) – Airbus gave way to weak demand for its A330 passenger plane on Friday, announcing a production cut for 2019 after a series of blunt defeats for Boeing in wide-body aircraft contests.

An employee walks in front of an Airbus A380 on the final assembly line at the Airbus headquarters in Blagnac near Toulouse, France, March 21, 2018. REUTERS / Regis Duvignau

The largest aerospace group in Europe He said he was reducing deliveries of the long-haul jet from 250-300 seats to around 50 aircraft in 2019, without giving a figure for his previous plans.

Airbus ( AIR.PA ) delivered 67 of the jet aircraft in 2017, which implies a 25 percent cut in production based on stable volumes this year.

A miniature model of the Airbus A330 is displayed in a pioneering ceremony for the delivery and delivery center of the Airbus A330 in Tianjin, China, March 2, 2016. REUTERS / Kim Kyung-Hoon

The recoil of the Production occurred as Airbus recorded a slender basic gain, albeit better than expected, in the first quarter after delays in engine deliveries for its smaller A320neo.

Together, the A320 and A330 families, which have updated versions of their most successful fuselages, generate most of the cash and revenue necessary to support future developments and other activities within the manufacturer of aircraft, rockets and fighters.

Airbus reported an adjusted quarterly operating profit of 14 million euros ($ 17 million), compared to a loss of 19 million restated the previous year. Revenues fell 12 percent to 10,119 million euros. Airbus reaffirmed financial forecasts, however.

Analysts had expected, on average, an operating loss of 23.9 million euros on revenues of 10,209 million, according to a Reuters poll.

($ 1 = 0.8258 euros)

Reports by Tim Hepher, Cyril Altmeyer; Editing by Richard Lough


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