The European Aeronautic Defence and Space Company (EADS) said Friday that profits in the first quarter of 2010 fell by 39 per cent, to 103 million euros (130 million dollars), compared to the same period last year, according to dpa. That decline occurred despite a 6 per cent rise in turnover, to 8.95 billion euros, for the first quarter of this year. The main reasons for the negative profits were the effects of the economic crisis, continued problems with delivery of the Airbus A380 superjumbo aircraft and the strength of the euro. EADS head Luois Gallois said, "The key priority for this year is to deliver on our programmes. We need to progress with the A380." He said he was "cautiously optimistic" that the aviation industry was on the road to recovery after the economic crisis. "Economic indicators signal a recovery trend of the global economy," Gallois said. "This has a clear positive impact on air traffic." He also said the recent strengthening of the dollar in the wake of the Greek debt crisis would be good for the company. "EADS should benefit in the mid- and long-term if the dollar trend is confirmed."
