Shortages of engines for A320neo aircraft hit Airbus in the first quarter of the year.

An adjusted profit of just €14 million was reported for the first three months on 2018 although this was an improvement on a loss of €19 million in the same period last year.

Net income dropped to €283 million from €409 million year-on-year as revenues came in at €10 billion.

The European manufacturer is reducing A330 deliveries to around 50 a year in 2019 after delivering 67 in 2017.

The A350 programme continues to make “good progress” with a targeted monthly rate of ten aircraft by the end of the year.

The first A350-1000 was among the 121 deliveries in the first quarter while the first flight of the A350-900 ULR (Ultra Long Range) version took place in this month.

A total of 45 commercial aircraft orders were received against just six a year earlier, with gross orders of 68 aircraft including 20 A380s superjumbos for Emirates.

The backlog of orders totalled 7,189 commercial aircraft at the end of March.

Chief executive Tom Enders said: “The first quarter performance reflects the shortage of A320neo engines and back-loaded aircraft deliveries.

“It’s a challenging situation for all but based on the confidence expressed by the engine makers and their ability to deliver on commitments, we can confirm our full-year outlook.

“This still leaves us with plenty to do this year to reach the target of around 800 commercial aircraft deliveries.”