Airbus sees profit boost, but defense and space challenges

By ANGELA CHARLTON
Associated Press

PARIS (AP) — Airbus is urging stepped-up European cooperation to ensure the continent’s security and future access to space. The France-based plane maker suffered fallout last year from Russia’s war in Ukraine and the crash of a multibillion-euro European rocket. Airbus on Thursday reported a record overall 2022 profit of 4.25 billion euros. But it took a 118 million-euro loss in its Airbus Defence and Space business. CEO Guillaume Faury says Airbus faced inflation challenges and supply chain disruptions last year but is ramping up production this year to meet growing demand from airlines.