Airbus takes 1.3 billion euros charge on A400M military plane


PARIS (Reuters) – Airbus on Thursday took a 1.3 billion euros ($1.6 billion) writedown on its A400M military transport plane, lifting cumulative charges on Europe’s troubled defense project above 8 billion euros and clouding higher-than-expected underlying profits. Europe’s largest aerospace group posted adjusted 2017 operating profit of 4.253 billion euros on revenues of 66.767 billion euros and predicted a 20 percent rise in adjusted operating income in 2018. Analysts were on average expecting adjusted 2017 operating profits of 3.996 billion euros and revenues of 67.343 billion, according to a poll conducted for Reuters. Reporting by Tim HepherEditing by Sudip Kar-GuptaOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters