Planemaker Airbus maintains forecasts as core profit rises By Reuters

PARIS (Reuters) -Airbus posted higher first-quarter core earnings on Thursday but kept forecasts unchanged as its chief executive warned of uncertainty while the COVID-19 pandemic lingers.

The world’s largest commercial jetmaker said adjusted operating profit rose 147% to 694 million euros ($841.6 million), led by its commercial jet and helicopter activities, as revenue slipped 2% to 10.46 billion euros.

The figures were slightly ahead of a company-compiled consensus of analyst predictions and reflect higher aircraft deliveries, as well as an ongoing restructuring project triggered by the heavy impact of the pandemic on air travel.

“The first quarter shows that the crisis is not yet over for our industry and that the market remains uncertain,” Chief Executive Officer Guillaume Faury said in a statement.

For the full-year, Airbus is expecting commercial deliveries equal to last year’s 566 jetliners, adjusted operating profit of 2 billion euros and breakeven free cashflow.

($1 = 0.8246 euros)