Airbus parent EADS reported first-quarter net income of €170 million (US$232 million), down 40 per cent from €285 million a year earlier, as net commercial aircraft orders dropped dramatically year-on-year to eight compared to 395 in last year’s first quarter. First-quarter revenue fell 14 per cent to €8.47 billion and EBIT fell 70 per cent to €232 million. Airbus’s revenue declined 21 per cent to €5.88 billion as it delivered 116 aircraft compared to 123 in the year-ago period. EBIT dropped 86 per cent to €89 million owing in part to “negative foreign exchange impacts.”