rbus took a 1.3 billion euro hit on Thursday. That over it's 8400 and military transport plane. The write down, takes total charges on Europe's troubled defense project, about eight billion euros. And it took the shine off better than expected profits for the firm. Europe's largest airspace group posted an operating profit of four and a quarter billion euros for 2017, it's targeting a 20% rise in core profits this year.
And it reaffirmed the target of around 800 jetliners deliveries for 2018 up from just over 700 in 2017. That is at the mercy of its engine suppliers, though. Airbus's switcher hit best seller A320 family to an upgraded model with new engines. But, it's been beset by delays in getting engines from US supplier Pratt and Whitney.
Now the company will be hoping it has at least stopped the losses on its ailing A400 program. The charge on the airlifter comes off to Airbus reached to provisional agreement with seven European nations over further delays in deliveries for the plane. Chief Executive Tom Enders says that deal should at least limit remaining risks on the program.