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Airbus profits up despite A350 problems

Associated Press Associated Press 27/07/2016

Airbus Group's profits rose in the first half of the year thanks to asset sales and a satellite launch merger, but the planemaker suffered losses linked to its troubled A400M military transporter and A350 passenger jet.

The Toulouse, France-based company reported profit of 1.76 billion euros ($A2.58 billion), up from 1.52 billion in the first half of 2015.

In the second quarter, Airbus finalised its sale of a stake in Dassault Aviation and the creation of Airbus Safran Launchers joint venture.

First-half sales were steady at 28.8 billion euros, compared with 28.9 billion last year.

Airbus maintained its forecast for stable financial results and orders over the year.

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