Dow Jones Newswires: Airbus cuts 2019 delivery target as it struggles with production woes [MarketWatch]
AIRBUS SE UNSP/ADR (EADSY)
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Source: MarketWatch
Airbus cuts 2019 delivery target as it struggles with production woes Airbus SE said Wednesday that it is cutting its 2019 delivery target, and reported a better-than-expected profit for its third quarter. The European plane maker AIR, +0.87% said its closely watched adjusted earnings before interest and taxes rose by 2% to 1.60 billion euros ($1.78 billion) as lower aircraft deliveries were offset by the Airbus neo transition. Net profit rose to EUR989 million from EUR957 million a year earlier, above analysts’ expectations of EUR935 million, in part reflecting better financial result and lower tax rate. Revenue edged down 1% to EUR15.30 billion from EUR15.45 billion, it said. Airbus cut its 2019 delivery target to roughly 860 aircraft from a previous forecast of 880 to 890 jets for the year, citing “underlying actions to secure a more efficient delivery flow in the next years.” For the first nine months of 2019, Airbus delivered 571 aircraft and to achieve its updated guidance wi
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