Airbus profits take off despite new charge on A400M military plane

Airbus profits take off despite new charge on A400M military plane

Airbus has reportedly taken a €1.3bn (£1.2bn) charge on its troubled A400M military transport plane, bringing total charges on the project to more than €8bn.

Analysts had predicted a profit of 3.99 billion euros ($4.98 billion), the average of 13 estimates.

Airbus SE promised 20% earnings growth this year - pushing the stock up the most since 2008 - so long as it can iron out persistent manufacturing problems on two key aircraft programs.

Airbus said it is supposed to deliver about 800 commercial aircraft in 2018 if engine manufacturers work as per their schedule.

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Supplier Pratt & Whitney introduced new engine fixes in the fourth quarter which have been certified say Airbus but a new issue has arisen recently, "the impact of which is under assessment with respect to 2018 deliveries, the A320neo ramp-up remains challenging and requires that the engine suppliers deliver in line with commitments".

The number of deliveries of commercial aircraft overall rose to a record 718 in 2017 from 688 in 2016, Airbus said.

The charge for the new troop carrier comes a week after Airbus reached a provisional agreement with seven European Nato nations over further delays in deliveries.

Overall, the strength of our 2017 achievements is reflected in our dividend proposal which is up 11 percent against a year ago.

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Austria, where prosecutors continue to probe the same fighter deal, said it would review a previous administration's decision to end the Eurofighter programme early.

Tom Enders, the Airbus chief executive, said that the deal would "significantly reduce the remaining programme risks".

Airbus also said it had reached agreement with European credit agencies that will allow Airbus to apply for export credits on a case by case basis.

Airbus has been forced to stump up some financing to help airlines after European export credit agencies halted support in 2016, when Airbus acknowledged having misled a United Kingdom agency in funding bids, triggering an Anglo-French corruption probe.

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Carr has led Penn State all season, averaging 19.2 points per game on the year - just behind Bates-Diop for the Big Ten lead. The big sophomore has added his own 12.9 points and 9.4 boards this season - second in the conference in rebounds per game.

Airbus said in a note with its accounts that it was co-operating closely with USA authorities in coordination with Britain's Serious Fraud Office and France's PNF financial police, which are investigating allegations of fraud, bribery and corruption in the group's civil aircraft activities.

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