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Airbus Group Q3 core profit down 21%
[PARIS] Airbus Group on Wednesday posted lower third-quarter profits led by a faltering performance in its core commercial jetliner division and continued weakness in the commercial helicopter market, and maintained its outlook.
Europe's largest aerospace group, which makes Airbus jets and a leading share of commercial helicopters, said quarterly operating profit before one-off items fell 21 per cent to 731 million euros (S$1.11 billion). Revenues fell one per cent to 13.95 billion euros.
Analysts had on average forecast quarterly core operating earnings down 19.3 per cent at 743 million euros on revenues up 1.9 per cent, according to a Reuters survey.
The Airbus commercial jets unit saw a 26 per cent slump in third-quarter profits despite 4 per cent higher revenues, with the planemaker noting difficulties in the supply chain for its A350 and A320neo jets. Helicopter profits fell 29 per cent.