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Airbus keeps outlook as first-quarter core earnings rise

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Airbus keeps outlook as first-quarter core earnings rise
FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo   -   Copyright  Regis Duvignau(Reuters)
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PARIS (Reuters) – European planemaker Airbus maintained its outlook for a rise in its annual, underlying results as it posted an increase in first quarter turnover and core earnings.

First quarter revenues rose 24 percent from a year ago to 12.55 billion euros (£10.8 billion), while its adjusted earnings before interest and tax (EBIT) jumped to 549 million euros from 14 million last year.

A Reuters poll had given a mean forecast for revenues of 12.99 billion euros and an adjusted EBIT of 520 million.

Last week, Airbus’ rival Boeing abandoned its 2019 financial outlook, halted share buybacks and lowered production due to the grounding of its fastest-selling 737 MAX jet after two fatal plane crashes in five months had cost it at least $1 billion so far.

(Reporting by Sudip Kar-Gupta; Editing by Tim Hepher)

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