EADS Second-Quarter Profits Drop 9 percent

The company cut its full-year earnings guidance, reflecting delays in the Airbus A380 superjumbo program.

Although both companies are still seeing strong sales of single aisle models, Airbus has been hit by flagging sales of its four-engined A340 and A380 models.

In the quarter, EBIT before items at the Airbus unit fell 1 percent to euro810 million (US$1.02 billion). EBIT at the Defense & Security Systems unit rose to euro61 million (US$76.8 million) from euro16 million. EADS' other businesses posted an EBIT loss of euro139 (US$175) million from a loss of euro42 million a year earlier, with the Sogerma Services plane servicing unit posting a loss of euro165 million (US$208 million).

Copyright 2005 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.

We Recommend