Airbus takes a hit of $1.6 billion charge on its A400M military transport plane

In a widely watched core profit item, Airbus reported an adjusted 2017 operating profit of 4.253 billion beating analysts’ expectation of 3.996 billion euros, while predicting a rise in operating income by 20% in 2018.

On Thursday, Airbus stated it has taken a $1.6 billion (1.3 billion euros) writedown on its A400M military transport plane, in the process increasing cumulative charges on Europe’s troubled defense project to levels above 8 billion euros and clouding higher-than-expected underlying profits.

Airbus, Europe’s largest aerospace group, posted an adjusted 2017 operating profit of 4.253 billion euros, against analysts’ expectation of 3.996 billion euros, on revenues of 66.767 billion euros, against analysts’ expectation of 67.343 billion, while predicting a rise in operating income by 20% in 2018.

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