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Airbus Helicopters Orders Plunge 26 Percent
First-quarter
results posted this morning from Airbus Helicopters reveal that the
pandemic pain in the OEM rotorcraft patch is far from over, with new orders and
deliveries falling sharply. New orders fell by 26 percent to 40 net orders,
compared with 54 in the same period a year ago. Meanwhile, deliveries dropped
to 39 helicopters, down by eight aircraft from a year ago.
The
new orders included two Super Puma-family helicopters and one H160. The overall
order book dropped 5 percent, to 664 helicopters, from 702 in the same period a
year ago. Still, first-quarter earnings before interest and taxes (EBIT)
actually increased 17 percent to $75 million, compared to $64 million in the
first three months of 2020, thanks to increased service revenues and unspecified
reductions in program and research and development spending. Overall revenues
dropped 2 percent, to $1.425 billion, from $1.455 billion in first-quarter
2020.
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