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Airbus Group Q3 core profit down 21 percent

Airbus posts 21% drop in core profit

Airbus 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 percent to 731 million euros ($796 million). Revenues fell 1 percent to 13.95 billion.

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

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

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