Thursday, 26 July 2018

Airbus shares soar on higher profits more than doubled in the second quarter

Profits at Airbus, Europe's largest aerospace company, more than doubled in the second quarter despite a slow start to 2018.

Bottlenecks of undelivered planes began to ease, while costs relating to its newest big jet, the A350, were down.

After a series of engine manufacturing issues caused delays, chief executive Tom Enders said deliveries had "picked up", but "challenges remain".

The results sent Airbus shares to a new record high of €111 in Paris.

The company has faced a backlog of up to 100 A320neo jets parked outside factories without their engines.
Many of the engines, which have been beset by glitches, are made by US-based manufacturer Pratt & Whitney.

BBC       News.

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