Airbus Sees Net Profit Halve in 2024

02 Aug 2024 CW Team

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.

Infrastructure Energy

09 Jan 2026

Rajesh Power Secures 65 MW BESS Project in Gujarat

Rajesh Power Services has recently secured a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project in Gujarat, marking its entry into utility-scale energy storage. The company received a Letter of Intent from Gujarat Urja Vikas Nigam for the project, which will be developed at Virpore under a tariff-based competitive bidding mechanism supported by Viability Gap Funding through the Power System Development Fund.The project is expected to be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement. With the ability to supply 65 MW of power for..

ONGC Forms JV with MOL for Ethane Shipping Operations

Oil and Natural Gas Corporation (Oil and Natural Gas Corporation) has recently entered the ethane shipping segment through joint venture agreements with M/s Mitsui O.S.K. Lines Ltd (Mitsui O.S.K. Lines), Japan. The agreements involve equity participation in two joint venture entities—Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited—registered at GIFT City, Gandhinagar.Under the arrangement, ONGC will subscribe to 2,00,000 equity shares of Rs 100 each in both entities, resulting in a 50 per cent equity holding in each joint venture, with the remaining stake ..

Waaree Energy Storage Raises Rs 10.03 Billio for 20 GWh Plant

Waaree Energy Storage Solutions Private, a subsidiary of Waaree Energies, has recently completed a strategic fund raise of around Rs 10.03 billion from a group of strategic investors, including family offices, high-net-worth individuals and institutional backers. The funding strengthens the company’s position in India’s rapidly expanding energy storage ecosystem.The capital raise forms part of an announced capital expenditure programme of nearly Rs 100 billion for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility. The plant will manufacture high-performa..