European Aeronautic, Defence & Space Co reported a third consecutive loss as its Airbus unit, the world's biggest plane maker, struggled to overcome delays and rising costs on the A380 superjumbo jet.

The first-quarter net loss was 10 million euros (US$13.5 million), or one US cent a share, compared with net income of 522 million euros, or 66 US cents, a year earlier, the company said in a statement.

Sales fell one percent to nine billion euros, Bloomberg News reported.

EADS expects Airbus to post a "substantial" loss this year because of the A380 costs and job cuts. The plane is two years behind schedule and eating up resources Airbus needs to develop a competing model to Boeing Co's 787 Dreamliner.

The 787 may help Boeing regain the lead in commercial aviation from Airbus next year, with demand from airlines at record levels.

"There is very little encouragement in these results ... revenues and earnings aren't really going anywhere," said Nick Cunningham, an analyst at Panmure Gordon in London with a "sell" recommendation on the stock.

"The first quarter is always difficult but Airbus really should be doing better than this, especially when you consider that volumes are up."

The stock has declined 25 percent over the past 12 months compared with a 7.4 percent gain for Boeing, the world's second-largest plane maker after Toulouse, France-based Airbus.

Earnings before interest and tax fell to 89 million euros from 791 million euros. The drop was mainly attributable to a 688-million-euro Airbus reorganization charge and higher costs for the A380.