Airbus Group Q3 core profit down 21 per cent

Airbus Group on Wednesday posted lower third-quarter profits led by a faltering performance in its core commercial jetliner division and continued weakness in the commercial helicopter market, and maintained its outlook.

Europe’s largest aerospace group, which makes Airbus jets and a leading share of commercial helicopters, said quarterly operating profit before one-off items fell 21 per cent to 731 million euros ($796 million). Revenues fell 1 per cent to 13.95 billion.

Analysts had on average forecast quarterly core operating earnings down 19.3 per cent at 743 million euros on revenues up 1.9 per cent, according to a Reuters survey.

The Airbus commercial jets unit saw a 26 per cent slump in third-quarter profits despite 4 per cent higher revenues, with the planemaker noting difficulties in the supply chain for its A350 and A320neo jets. Helicopter profits fell 29 per cent.