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Airbus sees A350 schedule pushed back six months

Airbus sees A350 schedule pushed back six months

Airbus has pushed back the expected delivery dates of the first A350 – its answer to the Boeing Dreamliner – by six months.

The decision, which cost €200 million in charges, hit profits for the third quarter, but Airbus nonetheless beat expectations for the period.

Net income at parent EADS rose sharply to €312 million, despite revenues falling four per cent €10.8 billion.

The Franco-German-led group said it expected operating profit to increase to €1.45 billion in 2011.

The organisation has previously stated it expected profits to remain flat at €1.3 billion due to the commercial market.

The revamped A320 is leading the way for Airbus, with record orders of 1,500 aircraft in 2011 instead of a previous target of 1,000.

Airbus, however, faces a major challenge in building the lightweight A350 mid-sized jet, which is now expected to enter service in the first half of 2014 instead of late 2013.

EADS pushed the first assembly back by three months to the first quarter of 2012.