EADS profits hit by repar costs

The cost of fixing problems on some A380 superjumbos has weighed on third-quarter profits at Airbus parent company EADS.

Net profit at the European aircraft giant fell 1% to €309m in the July to September period, down from €312m a year earlier.

EADS said today it had spent €200m of an expected €260m total on the A380 repairs, which involve small fractures found near rivets on some planes at the spot where wings’ metal covers, or skins, are joined with the wing ribs.

Sales rose 15% in the quarter to €12.3bn, and the company says it is on track to exceed its target of 10% sales growth for the full year.

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