Airbus Reports Higher First-Quarter Profit

By Robert Wall 

LONDON-- Airbus Group NV on Thursday reported a rise in first-quarter earnings bolstered by the sale of a stake in French combat jet maker Dassault Aviation SA, even as the underlying business began 2015 slowly.

Net income for the period was EUR792 million ($880 million) compared with EUR439 million a year earlier, the Toulouse-based plane maker said in a statement.

The company's earnings in the period were boosted by a EUR697 million net gain from the sale of a 17.5% stake in Dassault Aviation, it said.

"We had a good start into 2015, with a solid operational performance and improved cash generation, further supported by asset sales," Chief Executive Tom Enders said.

Sales declined 4% to EUR12.1 billion, the world's second-largest maker of commercial jetliners said. Airbus delivered 134 jets in the first three months of the year compared with 141 in the year prior period.

The European plane maker's closely watched earnings before interest and taxes excluding some one-time items retreated 7% to EUR651 million.

The company remains on track to meet full-year targets, Mr. Enders said. That includes meeting a long-promised commitment to start delivering A380 superjumbos from this year which no longer lose money.

Write to Robert Wall at [e-mail]

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