Airbus Third Quarter Profit Drops

Airbus Group posted a fall in third quarter profit as supply chain delays affected commercial aircraft deliveries.

Q3 earnings before one-off items were down 21 percent at EUR€731 million (USD$798 million), with net profit of EUR€50 million down 87 percent from the previous year period.

Revenue was down 1 percent at EUR€13.95 billion.

Problems with the Pratt & Whitney geared turbofan engine for the A320neo-family are now largely over, Airbus said, and the first CFM-engined A320neo was delivered in the quarter.

Airbus said P&W is facing production ramp-up challenges which may affect A320neo delivery schedules in the fourth quarter.

Deliveries of the A350 continue to ramp up with 14 delivered in Q3.

For the full year Airbus expects to deliver more than 650 aircraft and expects further orders.