Airbus Group

Ticker AIR

Today's data summary

Market closed
% change
-1.22%
Price Euros
121.00
Change
-1.50
As of 18:18 19 May 2019
Market cap. Euros
93,931.75 million
As of 18:18 19 May 2019

Latest updates

Mars: The 'heart' of the Rosalind Franklin rover
Engineers assembling the European-Russian robot launching to Mars next year fit its key instrument package.

Airbus: We will take Germany to court to sell arms to Saudis

Theo Leggett

BBC International Business Correspondent

Thousands of civilians have died as a result of air strikes in the Yemen civil war
EPA
Thousands of civilians have died as a result of air strikes in the Yemen civil war

The new chief executive of Airbus, Guillaume Faury, says the company will "probably" have to take legal action against the German government over its effective ban on arms sales to Saudi Arabia.

In November, Berlin said it would stop granting export licences for sales to the Saudi kingdom.

The embargo was introduced in the wake of the murder of journalist Jamal Khashoggi at the Saudi consulate in Instanbul last year, and Airbus has already said that it is affecting its business, because a number of the aircraft it sells contain German parts.

Speaking to journalists in London, Mr Faury said Airbus had contracts with its customers and needed to "defend our own contractual obligations and interests". He added that it was close to taking action in "a number of cases".

Jamal Khashoggi was killed after entering the Saudi consulate in Istanbul on 2 October
AFP
Jamal Khashoggi was killed after entering the Saudi consulate in Istanbul on 2 October
Rosalind Franklin rover: Standing up on Mars
Engineers test the locomotion system of the Rosalind Franklin rover which will launch to the Red Planet next year.
Rosalind Franklin rover: Climbing over 'Martian rocks'
Engineers test the locomotion system of the Rosalind Franklin rover and its ability to handle obstacles.
Learning to drive a Mars rover
Engineers rehearse the first drive the Rosalind Franklin rover will undertake when it arrives at the Red Planet.

Airbus suffers 86% drop in profits

Airbus A350
afp

Airbus has posted a €40m profit for the first quarter of 2019 - an 86% drop on the same period last year.

Among other things, it blamed "the prolonged suspension of defence export licences to Saudi Arabia by the German government" for the drop.

However the European aerospace giant registered strong revenue growth at €12.5bn, boosted by higher commercial aircraft deliveries.