Airbus profits slide as deliveries drop / Photo: Charly TRIBALLEAU - AFP/File
-
Trump says will meet North Korea's Kim later this year
-
Robinson makes history as Pakistan collapse against England
-
Stocks waver, dollar drops as US Treasury moves to lower bond yields
-
Alvarez can win back Atletico fans in two games: club chief
-
France recalls rare disease drug Tavneos after deaths
-
Oldest human brain cells grown in lab 'recorded passage of time'
-
Arsenal agree to sign Villa defender Konsa: reports
-
7,300 excess deaths and counting in France's historically hot summer
-
Evacuation orders lifted in Belgian wildfire zone
-
Ukraine MPs approve new defence minister after divisive reshuffle
-
UK media skewered for 'hounding' black academic
-
North Korea leader's sister says 'unaware' of reported Kim-Trump communication
-
More than 7,300 excess deaths in France's historically hot summer so far
-
Russia, Ukraine exchange 103 captured soldiers each
-
US socialists score shock Florida win as Trump picks stumble
-
Sainz signs new contract with F1 team Williams
-
Iran warns Gulf countries against helping US after UAE cuts trade ties
-
Playing at Real Madrid 'not for everyone': Bernardo Silva
-
Senior FIFA official withdraws support from embattled Infantino
-
As election nears, Israelis fear polarisation could spark violence
-
Lawson replaces injured Hadjar for Red Bull at Dutch GP
-
Bayern's Hoeness 'speechless' after second Musiala collapse
-
Robots sort packages and serve fast food at Beijing showcase
-
Reijnders leaves Man City for Saudi's Al Qadsiah: source
-
Leeds sign Swiss defender Elvedi from Monchengladbach
-
Arsenal chief expects Arteta to sign new contract 'very shortly'
-
Robinson double rocks Pakistan in first Test before rain stops play
-
Oil rises, stocks waver amid tech sell-off
-
Queen Camilla says was 'difficult' keeping King Charles' cancer private
-
Belgian fire of the century 'encircled' but fight goes on
-
UK PM launches bid to get rough sleepers off streets by Christmas
-
Japan target record medal haul at home Asian Games
-
England bowl against Pakistan in first Test of post-Bazball era
-
ICC says US sanctions 'flagrant attack' on court independence
-
Villa sign Japanese 'keeper Suzuki, Italian defender Ruggeri
-
Kyrgios admits 'huge mistake' after failing test for cocaine
-
Injury-plagued Pogba released by Monaco
-
Europe can't afford to miss AI revolution: ECB chief
-
Japanese 'keeper Suzuki signs for Aston Villa
-
Suthar shines as India crush Sri Lanka in 600th Test
-
Paul Pogba to be released by Monaco: club
-
UK PM unveils plan to help rough sleepers off streets by Christmas
-
Texas Counseling Center Highlights the Role of Counseling in Supporting Immigration Psychological Evaluations
-
Tokyo opposes US sanctions on Japanese ICC chief Akane
-
Pakistan govt to challenge court on moving ex-PM Khan to private hospital
-
Humanoid-maker Unitree surges more than 600% on Shanghai debut
-
India four wickets away from victory in Sri Lanka Test
-
Bowling great Donald warns Bangladesh that Australia will hit back hard
-
Belgian wildfire 'encircled' but situation still 'complicated'
-
STARPRIME Completes Beta Testing of Market-Maker Model for Retail Brokers
Airbus profits slide as deliveries drop
Airbus said Tuesday its first-quarter profit fell as it delivered fewer planes to customers, falling behind rival Boeing for the first time in years.
The drop in deliveries to 114 in the first quarter, compared to 143 for Boeing, was primarily due to a shortage of Pratt & Whitney engines.
Net profit slumped 26 percent from the same quarter last year to 586 million euros ($686 million), with revenues sliding seven percent to 12.65 billion euros.
The first quarter results "reflect the lower level of commercial aircraft deliveries", said Airbus chief executive Guillaume Faury.
"In commercial aircraft, we continue to ramp up and produce as per our plan while navigating the shortage of Pratt & Whitney engines," he added.
Investors and analysts follow delivery figures closely as Airbus and Boeing receive the bulk of the payment when they hand over aircraft to buyers.
Airbus said the availability of Pratt & Whitney engines "remains the key pacer of the ramp-up trajectory" for its top-selling mid-range A320 family of single-aisle aircraft.
The company maintained the target of 70 to 75 A320 family aircraft per month through 2025.
It also kept its 2026 target of 870 aircraft, which would beat its record year in 2019 of delivering 863 planes to customers.
Net orders of 398 aircraft during the quarter took its order book to 9,037, a backlog of nearly 10 years of production at current rates.
F.Wilson--AT