Airbus takes 1.3 billion euros charge on military plane

Airbus takes 1.3 billion euros charge on military plane

(Reuters) – Airbus on Thursday took a new 1.3 billion euro ($1.6 billion) hit on its A400M military transport plane, lifting 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 the widely watched core profit item.

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.

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