Airbus Q2 core profit doubles after A350 cost improvements

[PARIS] Airbus posted higher than expected second-quarter earnings and reaffirmed its 2018 targets, as A320neo deliveries accelerated following delays in engine supplies and the group scored cost improvements on its A350 jet programme.

Europe's largest aerospace group said quarterly adjusted operating earnings doubled to 1.148 billion euros (S$1.84 billion).

Revenues rose 8 per cent to 14.851 billion euros, although Airbus said "challenges remain" in terms of meeting its full-year A320neo delivery target.

Analysts were on average predicting an adjusted operating profit of 1.011 billion euros on revenues of 14.551 billion in the second quarter, according to a Reuters survey.

REUTERS