Airbus shares up amid higher q2 profits

Shares in Airbus (EPA:AIR) ticked up on Thursday morning after the company revealed stronger profits for the second quarter of 2018.

The aeroplane manufacturer reported adjusted pre-tax earnings more than doubled to €1.2 billion ($1.4 billion) during the second quarter.

This was in part due to profits stemming from A350 long-range jetliner, as well as more deliveries of its A320 neo single-aisle plane.

Despite a difficult start to the year, with a series of engine manufacturing issues prompting delays, chief executive Tom Enders noted that deliveries had “picked up”. Nevertheless, he recognised that “challenges remain”.

The Toulouse-based company Airbus said adjusted profits before interest and other costs increased 110 percent to €1.15 billion (£1.02 billion) for the first-half of 2018.

Still, net profit for the six month period ultimately dipped by 55 percent to €496 million.

Earlier this year, Airbus also warned of 3,700 job losses to counteract falling productivity levels.

According to the manufacturer, jobs in the UK, France, Germany and Spain were at risk.

Last year, the planemaker saw shares sink after engine problems dented profits across the period.

In particular, issues with engines in their A320 passenger plane affected trading, with adjusted operating profit falling to €240 million.

Shares in the European company are currently trading +4.63 percent as of 13.28PM (GMT).

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