Aerospace giant Airbus has seen profits plummet after commercial aircraft output halved, amid “persistent tensions” in its supply chain.
The company, which employs thousands of people at its UK sites in Filton, South Gloucestershire, and Broughton, North Wales, reported adjusted earnings before interest and tax (EBIT) of £680m for the first quarter – down from £1.05bn a year earlier.
The firm delivered 127 commercial aircraft during the period, 15 fewer than the first quarter of its previous financial year, with adjusted EBIT for this wing of the business dropping to £510m this year from £937m last year.
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Revenue across the group dipped slightly from £10.5bn to £10.3bn, with a “strong performance” from Airbus’ …
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