Airbus (EADS) profits down from €1.676bn to €99m!

[preiffer]

OUCH!

Full story here.


WHY my URL links have stopped working, I don't know...



Delays to A380 & 350XWB blamed for a significant proportion of the loss of profits.

Airbus has posted its first loss despite delivering a record 434 planes, dragging down parent firm EADS.
Delays dogging the A380 superjumbo, problems developing the A350 XWB and a strong dollar triggered the loss for 2006 of 572m euros ($752.3m; £389.4m).

As a result, annual net profits at aerospace giant EADS plunged from 1.676bn euros to just 99m euros.

EADS said Airbus would suffer "another substantial loss in 2007", but insisted the A380 would be delivered on time.

O dear o dear. The pro Boeing camp will be having a field day with this.

Had heard that further job cuts are to be announced. Not a happy time for airbus.

That really is some drop and I am sure that some creative accounting happened to keep them in the black. Is that laughing I hear coming from Seattle?

Iain

[Bazz]

EADS said Airbus would suffer "another substantial loss in 2007", but insisted the A380 would be delivered on time.

Who's clock are they using? Ahh, got it now, they have borrowed the one from the Wembley Stadium!

[RichardMannion]

Originally posted by Bazz

EADS said Airbus would suffer "another substantial loss in 2007", but insisted the A380 would be delivered on time.

Who's clock are they using? Ahh, got it now, they have borrowed the one from the Wembley Stadium!

Now Bazz lets not be silly - we all know that clock and builders (Multiplex) are now solely focused on the 2012 Olympics....

Actually, I'm surprised they managed to make any profit at all[:?]

Quick question (this is probably one for Will;)) - how far into all the crap did Noel Forgeard go?

VS.