Bumpy switch to new models hits Airbus Group’s Q3 profits

PARIS: Airbus Group posted lower than expected third-quarter profits, led by a faltering performance in its core commercial jet division and continued weakness in the commercial helicopter market, but broadly maintained its full-year financial forecasts.

Europe’s largest aerospace group, which includes the world’s second-largest jetmaker behind Boeing, said quarterly operating profit before one-off items fell 21% to 731 million euros (US$796mil). Revenue fell 1% to 13.95 billion euros.