Aerospace News – Early May 2023

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Aircraft manufacturer Airbus first quarter results showed strong demand for its products but falls in both revenues and EBIT levels. The group employs around 4,000 staff at its plant in Filton, near Bristol, where they work wings and landing gear. Consolidated revenues in the quarter fell slightly to £10.3bn, compared with £10.5bn in the same period a year ago. Reported EBIT suffered a 73% slump, from £1,258m the previous year, to £343m. The decrease reflects lower deliveries, a slightly less favourable hedge rate compared with Q1 2022 and investments for the future. Q1 2022 included the positive impact from retirement obligations partly offset by the impact resulting from international sanctions against Russia. https://www.thebusinessdesk.com/south-west/news/3784-airbus-reports-strong-q1-demand-but-sales-and-earnings-decline
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