Germany in late March extended by six months an embargo on weapons exports to Riyadh.
It had instituted the ban on arms sales to Saudi Arabia and other countries involved in the Yemen war last October in response to the murder of Saudi journalist Jamal Khashoggi.
PROFITS FELL BY 86 PERCENT
Airbus is affected by the freeze under a contract for “border security” equipment, the group’s chief financial officer told at a press conference. According to the company’s statements, the net profit of the group fell in the first three months of the year by 86 percent to approximately 40 million euros.
Airbus also blamed falling profits on 83 million euros relating to the dollar pre-delivery payment mismatch and balance sheet revaluation and a negative 61 million euros related to A380 programme cost.