April 30, 2019 / 6:39 AM / 4 months ago

Airbus details Saudi charges, reaffirms output plans

FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau

PARIS (Reuters) - Airbus took 297 million euros (£256.7 million) of charges related to a Saudi border contract after Germany extended a ban on defence exports to the Gulf kingdom, chief financial officer Dominik Asam said.

The sum includes a core impairment charge of 190 million euros, with the balance related to foreign exchange, he told reporters.

Asked whether Airbus saw an opportunity to raise production due to worries expressed by some airlines about the grounded Boeing 737 MAX, Chief Executive Guillaume Faury said the mid- to long-term picture for the competing A320neo was unchanged.

He reaffirmed existing plans to raise output to 63 A320neo planes a month in 2021 and said Airbus would assess later this year whether supply chain capacity would allow it to raise production further, beyond 2021. At this stage, there is no easing of supply chain conditions, he said.

Reporting by Tim Hepher; Editing by Sudip Kar-Gupta

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