Airbus likely to take hit to first quarter on A400M charge
Airbus is likely to take a hit in its first half results due to problems surrounding its A400M military transporter, the company's finance director has said.
Harald Wilhelm said problems that Airbus blames on the gearbox of the aircraft's turboprop engines have caused disruptions to deliveries of the already-delayed plane.
Speaking to journalists at Farnborough Airshow, Wilhelm said the problems were driving up costs, according to Reuters.
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And he added that the first-half charge would not cover all issues being audited currently, with further writedowns beyond 2016 a possibility.
However, an indication of the scale of the charge was not announced, though the company has already taken a hit of billions of euros in charges related to the A400M.
More than that, Wilhelm contined to say there could be a risk of charges related to loss-making contracts on the A350. These will not affect the A350's overall breakeven target.