Airbus first-quarter core working revenue tumbles 49%

FILE PHOTO: Branded posters are seen at Airbus’ wing assembly plant at Broughton, near Chester, Britain, June 22, 2018. REUTERS/Phil Noble

PARIS (Reuters) – Planemaker Airbus (AIR.PA) posted on Wednesday a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenues fell 15% to 10.631 billion amid the “gravest crisis the aerospace industry has ever known”.

Europe’s largest aerospace group also reported a negative cashflow of 8.03 billion euros including a previously published record 3.6 billion euro fine to settle bribery and corruption investigations in Britain, France and the United States.

Reporting by Tim Hepher; Editing by Muralikumar Anantharaman

Source: Reuters