EADS has announced a drop in its Q3 financial results because of the weak US dollar and delays to its aircraft programmes.

EADS has announced its third quarter financial results, which have dropped €87 million (£77m) compared with the same quarter last year, mainly attributable to the weakening US dollar and problems associated with its A380 and A400M projects.

It stated that progress on its subsidiary company’s A380 Airbus programme has been slower than expected, with customer financing remaining limited. However, success of the programme is expected to increase in the fourth quarter.

In addition, EADS is entering the last phase of negotiations with buyers of its A400M military transport aircraft programme, the delays to which are expected to impact significantly on the company’s finances. Delays to the project, such as engine failures and industrial problems, total more than three years.

Louis Gallois, EADS’ CEO, said: “Given the challenging commercial market situation, EADS’ nine months results demonstrate the Group’s resilience in the economic crisis so far. Protecting our cash and managing the order book and deliveries – these business priorities served us well this year. I am particularly satisfied that we received the go-ahead from our customers for the Eurofighter Tranche 3a.

“New programmes require our utmost attention. Regarding A400M, we are working with our customers to reach an acceptable solution for all parties and to put this programme on a solid long-term footing. Additionally, the A380 programme is still a matter of concern; industrial and financial reviews are underway.”

Positively, EADS’ defence order book is thriving, with contracts for Brazilian military helicopters and the Saudi Arabian border security project, and it is set to experience a “substantial upswing” in the fourth quarter.

Overall, the company is anticipating the economic and market conditions to improve over the coming months.