Airbus profits fall on taxes, pricing, supplier issues

PARIS (AP) — European plane maker Airbus Group SE says third-quarter net profit dwindled to 50 million euros ($55 million) from 376 million euros a year ago.

The company cited higher taxes in this year's quarter, unfavorable currency exchange rate shifts, slower production of its A330 model, supplier difficulties, and price pressure stemming from the introduction of new models for its single-aisle A320 model and its long-haul A330.