[ Register or Signin to view external links. ]

Airbus has written off another 1.3bn (£1.2bn) on its troubled A400M military transport plane, bringing total losses on the project to more than 8bn.

The A400M has had setbacks over the years, most seriously a crash during a test flight in Spain in 2015 which led to the deaths of the four crew members.

The aerospace group reported better-than-expected 2017 profits of 4.3bn, against 3.9bn in 2016.

Shares in the company rose by about 8% after the results were published.

Revenues were "stable" at 66.8bn, up from 66.6bn.

In its statement, Airbus said higher aircraft deliveries had been "offset by a reduction in revenues of around 2bn from the perimeter changes".

Last week, Airbus reached a provisional agreement with seven European NATO buyer countries over further delays in deliveries for the A400M.

Chief executive Tom Enders said in the results statement: "On A400M, we made progress on the industrial and capabilities front and agreed a re-baselining with government customers which will significantly reduce the remaining programme risks. This is reflected in a substantial one-off charge."

---

---

---

[ Register or Signin to view external links. ]