PARIS — Airbus’s space division reported a 20.7% decline in revenue for the three months ending March 31 compared to the previous year and lower profitability that caused the overall Defence and Space division to report negative adjusted pretax profit for the period.
The space division is continuing to suffer the consequences of non-cash charges totaling 600 million euros ($643 million) in the second half of 2023 following program hiccups including delays and cost overruns in its new OneSat software-defined satellite product.
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