Airbus Q1 core operating profit tumbles 49%

Airbus Q1 core operating profit tumbles 49%

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Planemaker Airbus posted on Wednesday a 49% slump in first-quarter adjusted operating profit to 281 million euros ($304.7 million) as revenues fell 15% to 10.631 billion amid the "gravest crisis the aerospace industry has ever known".

Europe's largest aerospace group also reported a negative cashflow of 8.03 billion euros including a previously published record 3.6 billion euro fine to settle bribery and corruption investigations in Britain, France and the United States.