Airbus hit by US$1.5bil charges

SURF'S UP: Satellites that offer the Internet will be launched into orbit around Earth in 2018.

TOULOUSE: Airbus Group SE took charges totalling 1.4 billion euros (US$1.5bil) against delays and glitches at two key programmes that have left it even more reliant on a second-half production surge to meet annual earnings goals.

The European manufacturer recorded a hit of 1.03 billion euros to fix faulty gearboxes on its A400M military transport, together with a penalty of 385 million euros on the A350 wide-body, deliveries of which have slowed to a trickle amid a shortage of cabin fittings including seats and lavatories.