News
Airbus net profit dropped 62% in fiscal year first quarter
May 5th 2023
Airbus has reported net profit declined by 62%, to 466 million euro (US$516 million), in the three months to March 31 down from 1.2 billion euro in the same period a year ago. Read More » Revenue slipped 2%, to 11.8 billion euro, the company said in a regulatory filing. While the first quarter “confirmed strong demand”, particularly for commercial aircraft, CEO Guillaume Faury said the company continued to “face an adverse operating environment”, including persistent tensions in the supply chain. Airbus is maintaining its commercial delivery target of 720 aircraft for calendar 2023. Scheduled entry-into-service of its A350F freighter has been pushed back from the close of 2025 to 2026, the OEM said, but entry-into-service of the A321XLR narrow-body remains unchanged and is scheduled for the second quarter of 2024.
