Airbus first-quarter profit hit by engine delays; cuts A330 output

Airbus posted a slender first-quarter profit after delays in engine deliveries for its A320neo passenger jet, and it also cut production of the larger A330 due to weak demand.

Europe’s largest aerospace group reported an adjusted quarterly operating profit of 14 million euros ($17 million), compared with a restated year-earlier loss of 19 million. Revenues fell 12 per cent to 10.119 billion euros. Airbus reaffirmed forecasts.

Analysts were on average expecting a 23.9 million euro operating loss on revenues of 10.209 billion, according to a Reuters poll.

Airbus said it had decided to reduce A330 deliveries to around 50 per year in 2019 amid weak demand, without giving a comparison figure.