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Airbus keeps outlook as Q1 core earnings rise

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European planemaker Airbus maintained its outlook for a rise in its annual, underlying results as it posted an increase in first quarter turnover and core earnings.

[PARIS] European planemaker Airbus maintained its outlook for a rise in its annual, underlying results as it posted an increase in first quarter turnover and core earnings.

First quarter revenues rose 24 per cent from a year ago to 12.55 billion euros (S$19 billion), while its adjusted earnings before interest and tax (EBIT) jumped to 549 million euros from 14 million last year.

A Reuters poll had given a mean forecast for revenues of 12.99 billion euros and an adjusted EBIT of 520 million.

Last week, Airbus' rival Boeing abandoned its 2019 financial outlook, halted share buybacks and lowered production due to the grounding of its fastest-selling 737 Max jet after two fatal plane crashes in five months had cost it at least US$1 billion so far.

REUTERS

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