Airbus Q1 net profit surges 80 percent

(MENAFN) European aeronautics giant Airbus Group has reported an 80 percent increase in first quarter net profit to USD883 million, Arab News reported.

The group said revenues of USD13.57 billion for the first three months of the current year remained virtually stable compared to the same period of last year.

Airbus said first-quarter orders of aircraft were also flat at USD23.56 billion. But it noted that the total value of client orders rose by 11 percent to USD1.1 trillion.

"We had a good start into 2015, with a solid operational performance and improved cash generation, further supported by asset sales," Airbus Group CEO said in a statement.