Airbus expects stable revenue despite order loss

PARIS (AP) — European aerospace company Airbus says it expects its revenue to remain stable this year despite a big cancellation recently for some of its large A350 planes.

Airbus competes fiercely with Chicago-based Boeing Co. in the global market for large civilian aircraft. It took a hit in June when Emirates airline cancelled an order for 70 of the twin-aisle planes, opting for Boeing models instead.

Since then, however, Toulouse-based Airbus has announced a raft of new orders for its fuel-efficient A330neo.

In its earnings statement Wednesday, the company said revenue rose 7 percent in the second quarter from the previous year, to 14.6 billion euros ($19.5 billion). That helped boost its net income to 696 million euros from 531 million euros.

It expects deliveries to remain stable this year.