Airbus quarterly profit dips

European aerospace group Airbus announced Friday it had earned 41 percent less between July and September than in the same period last year, with net profit totaling 264 million euros ($329 million).

Revenues were stable at 13.3 billion euros, the group said in its quarterly report, while earnings before tax, interest and depreciation (Ebita) grew by 14 percent. Efficiency gains were partly offset by "negative foreign exchange revaluation on US dollar liabilities."

In spite of the third-quarter profit dip, Airbus maintained its full-year forecasts for this year and next year, encouraged by a 16 percent rise in net profit over the first nine months of 2014 for a total of 1.4 billion euros.

"An improved operational performance drove revenues and profitability higher," Tom Enders, Airbus' chief executive, said in a statement.

Big aircraft headwinds

In the quarter, the European jet maker delivered nine of its A380 superjumbo aircraft, up from four a year earlier. But production of the 525-seat, wide-body plane was still causing losses, the firm said. Airbus began selling the A380 in 2007 and has since delivered 144 units.

Airbus also warned that its A400M military transport program was currently under review because of "negative cost and risk evolution." The financial impact of the problems would be disclosed in its full-year report, the company said.

Aircraft industry heavyweights Airbus and Boeing are flourishing on massive orders from airlines across the world, which aim to modernize their fleets to make them more fuel-efficient. As a result, Airbus reported orders of 765 billion euros in its books at the end of September, compared with 681 billion euros at the end of last year.

uhe/cjc (dpa, AP)