The European aerospace company Airbus Group published a report in which it is reported that the company's net profit decreased from 792 million euros to 399 million in January-March 2016. Operating profit excluding individual circumstances decreased by 23%, according to the press release this level is 501 million euros.
Quarterly corporate profits rose by 1% to 12.2 billion euro. This is despite the fact that Airbus in January-March recorded a loss of nearly 3 billion euros. In the first quarter Airbus Group has reduced deliveries of airplanes from 134 to 125. For three months the company has managed to attract only 10 new orders. During the period of January-March, customers received only four A350 airliner, but the plan was 50 units.
Tom Enders, the Airbus CEO, noted that 2016 appeared very difficult for us, as we expected. The Corporation has retained the annual operating profit at level of last year and even higher. However, Enders believes that the results could worsen during the second half of 2016.
Airbus stocks this morning on trading in Paris fell by 4.4%, since the beginning of the year total losses amounted to 9.6%, or 43.6 billion euros.