airbus warns of potential financial hit from fraud probes
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Airbus warns of potential financial hit from fraud probes

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleAirbus warns of potential financial hit from fraud probes

Airbus also said in a statement it was still battling delivery problems of the new fuel-efficient engines
London - Muslimchronicle

European aircraft maker Airbus said Tuesday that investigations into fraud, bribery and corruption by the French and British authorities could impact its earnings.

Airbus also said in a statement it was still battling delivery problems of the new fuel-efficient engines for its A320neo jet, even if tailwinds from exchange rate effects boosted its bottom line in the third quarter.

"The investigations initiated by the UK's Serious Fraud Office (SFO) and France's Parquet National Financier (PNF)... could have a material impact on the financial statements, business and operations of Airbus," the statement said.

"However, at this stage it is too early to determine the likelihood or extent of any such possible consequence."

Airbus is being investigated in France and Britain for alleged irregularities concerning third-party consultants that the company itself detected and alerted to the authorities.
The planemaker is also under investigation in Austria and Germany for possible corruption related to the sale of Eurofighter jets to Austria.

Turning to its business performance in the third quarter, Airbus said that net profit amounted to 348 million euros ($405 million) in the three months to September, up from just 50 million euros in the same period a year earlier.

Third-quarter revenues advanced by two percent to 14.244 billion euros.

Taking the nine months to September, net profit edged up by just two percent to 1.851 billion euros on a one-percent increase in revenues to 42.953 billion euros.

"The strong backlog and a healthy market environment continue to support our commercial aircraft production ramp-up plans," said chief executive Tom Enders.

"We confirm our outlook even though this year's delivery schedule is extremely back-loaded, largely due to the well-known engine problems plaguing our A320neo Family."

In all, 90 A320neo aircraft were delivered to 19 customers in the nine-month period, Airbus said.

At the beginning of 2017, around 200 A320neo deliveries had been targeted for the full year.

But "due to engine availability issues... A320neo deliveries are now expected to be slightly below that target," Airbus said.

"The A320neo ramp-up remains challenging with the delivery profile very much loaded into the fourth quarter. Priority is being given to engine deliveries to customers to be used for spares, as agreed with the engine manufacturers," the statement said.

Source:AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

airbus warns of potential financial hit from fraud probes airbus warns of potential financial hit from fraud probes

 



Themuslimchronicle, themuslimchronicle

GMT 09:23 2017 Wednesday ,19 April

1105 food baskets distributed in Yemen

GMT 09:35 2018 Monday ,08 January

Trump marijuana policy reversal stokes fears

GMT 11:09 2017 Saturday ,16 December

Russia poses risk to undersea cables: UK defense chief

GMT 09:56 2017 Thursday ,02 November

Digital subscriber gains rev up NY Times profit

GMT 01:38 2016 Thursday ,29 December

Iraqi President meets Kuwaiti Foreign Minister

GMT 17:37 2017 Tuesday ,21 February

Le Pen refuses to wear veil, fails to meet with Mufti

GMT 01:48 2016 Monday ,13 June

Pioneering solar pilots 'make sci-fi a reality'

GMT 18:45 2016 Wednesday ,21 December

Several Qaeda militants killed in drone strike

GMT 07:28 2018 Thursday ,11 January

As US freezes aid, Pakistan dismisses economic fears

GMT 11:14 2017 Sunday ,12 March

My video is flagrant but smashed the charts

GMT 09:21 2018 Wednesday ,10 January

unveils London boutique and appoints MG Empower

GMT 07:48 2018 Thursday ,04 January

L’Oréal Professionnel unveils Alexa

GMT 07:41 2017 Saturday ,19 August

Brief tourism impact from Spain attacks

GMT 00:02 2017 Friday ,22 December

UK-Iranian prisoner could be released

GMT 21:53 2016 Tuesday ,14 June

Israeli tech second only to Silicon Valley

GMT 00:25 2017 Friday ,27 October

Ex-HSBC executive can face US extradition: UK court

GMT 07:44 2017 Wednesday ,20 September

Iran asks award-winning film-maker to report to prosecutor

GMT 10:34 2017 Saturday ,11 November

Politics free? Even country music awards poke Trump

GMT 07:59 2017 Sunday ,17 December

Embassy in London marks Accession, National Days
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle