Airbus has reported a sharp decline in its net profit for the first half of 2024, which has halved to ?825 million. This downturn is attributed to various factors impacting the aviation sector, including supply chain disruptions, increased costs, and challenging market conditions.

The aerospace giant faced difficulties in ramping up production and meeting delivery schedules, which affected its financial performance. Additionally, the company encountered higher operating costs and investments needed to maintain and expand its production capabilities.

Despite the profit slump, Airbus remains optimistic about its long-term prospects. The company is focusing on addressing supply chain issues and optimizing production processes to improve efficiency and reduce costs. Airbus continues to invest in new technologies and innovations to enhance its competitive edge in the global aerospace market.

The downturn in profit underscores the broader challenges faced by the aviation industry as it navigates post-pandemic recovery, fluctuating demand, and ongoing economic uncertainties. Airbus is committed to strengthening its position and achieving sustainable growth as it adapts to these evolving conditions.