Airbus Group Posts Profit of 792 Million Euros in First Quarter

Airbus Group Posts Profit of 792 Million Euros in First Quarter

Airbus Group, Europe's largest aerospace group, said that its profits have increased in the first quarter.

The France-based plane-maker said although their plane orders and deliveries fell slightly, but sale of a stake in rival Dassault Aviation played an important role for boosting their profits of first quarter.

The aerospace group reported a net profit of 792 million euros ($871 million) in the first quarter, as compared to 439 million euros in the previous year.

The group in the first three months of the year was successful in getting only 101 net new orders for jetliners, as compared with 103 a year ago. It received 110 new orders for chief rival Boeing in the first quarter of 2015.

Airbus's revenues in the quarter were 12.1 billion euros, which was down from 12.6 billion euros it earned in the first quarter 2014. The company said it would forecast a slightly higher orders and deliveries this year.

The company in the previous year delivered record deliveries of 629 commercial aircraft. The figures were more than the company sold in 2013 but were still below the 723 jets that Boeing delivered in 2014.

Boeing said in 2015 plans to make target deliveries of about 750 to 755 commercial jets. Boeing last week said first-quarter net income rose to $1.34 billion from $965 million a year earlier.

Airbus on the other hand is speeding up its production of its single-aisle A320 series of jets. The company in February revealed its plan of selling nearly 50 jets a month in 2017 from a planned 46 per month in the next year.

Boeing and Airbus both are benefitting as airlines use some of their record profits to buy new and more fuel-efficient jets.

Being executives predicted that increased travel, new routes and airline growth will strengthen plane sales for coming year.

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