• News
  • Business

Airbus profits hit by A400M costs

"De-risking the programme and strengthening programme execution are our top priorities for this aircraft in 2017", said CEO Tom Enders.

The plane's engines have been the main source of problems, with seven North Atlantic Treaty Organisation countries giving Airbus 3.5 billion euros in 2010 to resolve issues.

Hailed at the time as an innovative, fixed-price commercial-style deal, the contract foundered over the problems with the West's largest turboprop engines and an ambitious schedule for innovations such as ground-hugging technology to avoid radar.

Surprise new costs for the long-troubled Airbus A400M military jet sent the European plane maker's profits plunging last year and will weigh on the company's financial prospects through next year, even as it forecast a rise in aircraft deliveries and demand. So far, the only non-European buyer is Malaysia.

Airbus delivered 49 A350s and 68 A320neos past year, despite supply chain challenges for both aircraft.

Nonetheless, he described the penalties as "inappropriate" given the fact that the aircraft was playing a key operational role in Africa and elsewhere.

More news: Danica Patrick says another hard crash would cause her to retire

The agency representing seven North Atlantic Treaty Organisation buyers - Belgium, France, Germany, Luxembourg, Spain, UK and Turkey - was not available for comment.

"It is likely to be important for Airbus to reassure investors that the company is close to the end for this stream of significant charges", said Raymond James analyst Harry Breach in a note to investors.

Airbus reported that it suffered a net income drop by 63% to €995 million ($1.044 billion) on the revenue increase of 3% to €67 billion ($70.419 billion).

The company met its ramp-up target for the A350, with 49 aircraft delivered during 2016, but acknowledged that the situation remains challenging as the ramp-up progresses.

Total deliveries of commercial aircraft rose to 688 in 2016 from 635 a year earlier and helicopter deliveries were up at 418 compared with 395.

Leave Your Comment

Leave Your Comment


Latest News

  • Police Release Audio And Picture Of Suspect In Homicide Investigation

    The subject of the photo was initially labeled as a person interest but Slocum on Wednesday said officers believe he is a suspect. Police released a photograph of a man on the Delphi Historic Trail.

    Justice minister says South Africa still intends to quit the ICC

    It said the country should not join "pariah states who have no respect for human rights". Is the ICC biased towards Africa? .

    Blair defends Guantanamo release for 'Isis bomber'

    He later joined Isis and is said to have blown himself up at an Iraqi army base in Mosul this week. He was found in a Taliban prison in Afghanistan in 2001 and held without charge for two years at...
  • Lakers trade Lou Williams to Rockets for Corey Brewer, first-round pick

    Lakers trade Lou Williams to Rockets for Corey Brewer, first-round pick

    The former Houston Rocket, Brewer is also 30-years-old, and is shooting just over four points a game on average. Williams had been performing at a high level for the Lakers, scoring a career-high 18.6 PPG off the bench.

    Advanced Micro Devices Inc

    Based on a recent bid, the stock is trading -77.77% away from it's 52- week high and 16800.00% away from its 52 week low. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link .

    Jay Z is launching a venture capital fund

    Venture capitalists identify and invest in promising businesses-and Jay-Z definitely knows a thing or two about what's hot. As with most projects involving the Carters, Jay Z and his fellow businessmen haven't publicly commented on the VC fund.
  • United Kingdom economy strong in 2016 but signs of weakness ahead

    Hope for growth to continue at a reasonable pace rests on the shoulders of manufacturing, let's hope they are broad enough. This will hit consumer spending. "A slowdown in GDP growth in 2017 therefore now looks inevitable".

    Moreno beating Lasso in 1st round of Ecuador's presidential election

    The National Electoral Council, CNE, said the final result of Sunday's presidential election will be released by Thursday. However, a poll conducted by Opina Ecuador gave Moreno 42.9 percent of the vote versus Lasso's 27.7 percent.
    UP Polls: BJP president Amit Shah road show in Allahabad

    UP Polls: BJP president Amit Shah road show in Allahabad

    The comment from Chaudhary came shortly after Modi accused Samajwadi Party of discrimination on the basis of religion. Everybody acknowledges that he was a criminal.
  • British MP Says UK Is "Pimping Out The Queen" For Donald Trump

    The lawmakers jointly debated a rival petition calling on the British government to stand by the invitation. MP Kirsten Oswald accused the government of cozying up to the president.
    Facebook In Talks With MLB To Live-Stream One Game A Week

    Facebook In Talks With MLB To Live-Stream One Game A Week

    Terry Francona of the Cleveland Indians said he was "OK" with trying to cut out some of the unnecessary time to games. The sport of baseball is flawless in everyway and changing the intentional walk rule is the wrong decision.

    China bans North Korean coal imports

    So China is finally standing arm-in-arm with the United States and global community to actually do something about North Korea. Terminal High Altitude Area Defence ( THAAD ) system, which Seoul and Washington say is needed to defend against North Korea.
  • Oscar-nominees hit DVD just ahead of Academy Awards

    Oscar-nominees hit DVD just ahead of Academy Awards

    She was the one silver lining in the oversaturated and overrated " La La Land "-completely outshining her co-star Ryan Gosling". That leaves original screenplay a two-horse race between presumed frontrunner " Manchester by the Sea " and " La La Land ".

    Dylann Roof stopped at 2nd AME church after shooting

    The documents contradicted defense arguments that there was no evidence suggesting a second church attack. Branch AME is an estimated 30 minutes away from Emanuel, and was also hosting a Bible study that night.
    BLINK Recast For Fox's X-MEN Show

    BLINK Recast For Fox's X-MEN Show

    After being traumatized from having to leave the life she knows, she slowly regains her confidence, and adapts to her new life. The family has to go on the run, and joins an underground network dedicated to saving mutants.
  • Iran Supreme Leader calls on Palestinians to pursue intifada against Israel

    Iran Supreme Leader calls on Palestinians to pursue intifada against Israel

    Palestine has been the site of increased tensions since last August, when Israel imposed restrictions on the entry of Palestinians into the al-Aqsa Mosque's compound in East Jerusalem al-Quds.

    Government to study ICC ruling

    It is likely that government lawyers will appeal this decision, and apply for urgent access to the Constitutional Court to do so. The opposition Democratic Alliance party, which filed the suit, said the ruling was a "victory for the rule of law".

    Logan: A movie with few superheroes?

    Directed by James Mangold and starring Hugh Jackman, Patrick Stewart, Dafne Keene, Boyd Holbrook, Richard E. Yet it just may be the ethos of the Western that helps more fans appreciate a film like " Logan ".

Breaking News



Recommended

Protest In Anaheim Over Video Of Off-Duty Officer Firing Gun Turns Violent

They took over the area of Euclid Street and Palais Road, where the fracas occurred, and clogged intersections Wednesday night. Police asked the protesters to disperse, or face arrest. "I said , 'Hey, that's not how you treat a lady, '" the boy said .

Authorities: Suspect arrested in case of missing teacher

Ryan Alexander Duke, the man accused of killing Tara Grinstead , made his first appearance in court Thursday afternoon. A search of Grinstead's home produced very little evidence making the search for her very hard , the release said.

Sunday and Public Holiday Penalty Rates Cut

The Fair Work Commission has spent nearly two years weighing evidence from more than 140 witnesses and 6000 written submissions. Equalising Saturday and Sunday doesn't have to mean cutting to the lowest common denominator of current Saturday rates.

Edinburgh ranked 'second most congested city in the UK'

But Los Angeles was the city with the world's biggest rush-hour traffic delays, said the study , with 104.1 hours. San Francisco's Smart I-80 corridor, which opened in September could be helping to keep traffic from worsening.

Trump team to change transgender policy

Spicer said Wednesday to expect "further guidance" later in the day on transgender student bathroom use in public schools. Trump has in the past said that he thinks states should be able to decide their own policies on trans bathroom issues.

'The Elder Scrolls Online's' Homestead Update is now available on Xbox One

Announced in January, the upcoming The Elder Scrolls Online expansion, Morrowind, takes players to the island of Vvardenfell. Bethesda have just released a first look at The Elder Scrolls: Morrowind gameplay, with a trailer and screenshots.

Burger King owner loves that chicken at Popeye's, paying $1.8 billion

It has more than 20,000 locations globally, and Popeyes would give it about another 2,600. "That's where you see the savings". People are excited - really excited - about Durham's first Popeyes Louisiana Kitchen fast-food restaurant.

DGP orders inquiry into moral policing incident

And when the answer was in the negative, they told them that such behavior in public was vulgar. To this, they replied: "We are not trying to punish you; we would like to inform your parents".

From London, Macron lays red carpet for banks, academics, and researchers

The European Parliament has ordered Le Pen to repay the money, estimating the improper payments at 336,146 euros ($355,000). French presidential candidate Marine Le Pen has refused to wear a headscarf for a meeting with the grand mufti of Lebanon.

Budapest drops 2024 Games bid - state media

Both Los Angeles and Paris have hosted an Olympic Games twice before: Los Angeles in 1932 and 1984, and Paris in 1900 and 1924. As the necessary unity in Budapest has been lost, the bid of Budapest lost all of its chances, the government said.