EADS forecasts earnings' fall as recession hits airline business
Frankfurt - European aeronautic, defence and space group EADS predicted Tuesday a fall in earnings in the coming year as the global recession hits the airline business.
The parent of the Airbus airline manufacturer forecast that earnings before interest and tax will fall from the 2.8 billion euros (1.27 billion dollars) the group posted last year.
This came as the group reported a better-than-forecast net profit of 1.6 billion euros in 2008, as a consequence reversing a loss run in the previous year. Full-year sales for the group rose by 11 per cent to 43.3 billion euros.
Analysts had predicted that the company would post a net profit last year of about 1.3 billion euros.
EADS said its fourth-quarter net profit jumped by 89 per cent to 490 million euros. (dpa)
