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Airbus Q1 profit beats forecasts, shares rise

Airbus Q1 profit beats forecasts, shares rise
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First-quarter earnings at Airbus were better than expected, despite a fall in orders and higher research and development costs.

The news sparked a relief rally in its shares.

Operating profit before one-off items fell by a smaller than expected 4.6 percent to 700 million euros. Revenue was up five percent to 12.6 billion euros.

There was an upbeat report on testing of the new fuel-efficient A350 airliner. It remains on track for the first delivery by the end of the year.

The plane – a rival to Boeing’s 787 Dreamliner – is seen as crucial for future profits at Airbus.

Airbus itself remains cautious. “The A350 is in a critical phase, and challenges and risks remain,” Finance Director Harald Wilhelm told reporters.

with Reuters