1/6/2024 0 Comments Airbus cargolifterThe first A400M was delivered four years late, in 2013, to France, which now has six of the planes and has already deployed them in West Africa and in Iraq. Since 2006, Airbus has absorbed more than €4 billion in unanticipated charges for the A400M, equivalent to about one-fifth of its estimated €20 billion in development costs.Įuropean governments agreed in 2010 to a complex, €3.5 billion bailout of the A400M after Airbus Group, then known as European Aeronautic Defense and Space, threatened to abandon the project if its stakeholders did not assume a larger share of the plane’s upfront costs and a less ambitious delivery schedule. Once held up as a model of Pan-European arms procurement, the A400M - a 37-ton cargo and troop transporter with four turbo-propeller engines - was initially commissioned in 2003 by six European NATO member states and Turkey, to replace their aging fleets of Lockheed C-130s and Transall C-160s.īut its development has been dogged for years by technical and production problems that have led to threats of order cancellations and postponements. ![]() On Friday, Airbus said it had booked new charges of €551 million related to the A400M, a program that is already billions of euros over budget. Underlying profit for defense and space operations fell 38 percent last year, to €409 million, on sales that were nearly flat, at €13 billion, Airbus said.Īmong the military division’s largest challenges has been a series of production problems with its A400M Atlas cargo plane that pushed back delivery to several European countries, including Britain, France and Germany. The military unit has struggled as its biggest customers - European governments - have reined in spending. While underlying profit for the group’s main commercial aircraft business soared 68 percent to €2.67 billion, earnings at its military division faltered as the group pushed ahead with a restructuring of those operations. That has led to long waits for customers seeking to get hold of new planes - particularly single-aisle aircraft, which represent roughly three-quarters of the two companies’ growing order books. Until recently, high oil prices also created a strong incentive for airlines to replace older, fuel-guzzling planes with more efficient models. Like Boeing, Airbus has watched demand for its passenger jets grow in recent years, thanks to rising demand for air travel, particularly in emerging markets. ![]() ![]() Revenue, the bulk of which comes from the commercial aircraft unit, rose 5 percent from a year earlier, to a record €60.7 billion. PARIS - Robust demand for new commercial jets lifted Airbus Group profit by 59 percent last year, despite continued underperformance at its military division, where delays to a new transport plane led to more than $600 million in additional costs, the company said on Friday.Īirbus said that net income for the full year climbed to 2.34 billion euros, or $2.65 billion, from €1.47 billion in 2013.
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