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Engine delays hit Airbus profits, delivery targets fragile

PARIS, July 27 (Reuters) - Europe's Airbus on Thursday unveiled a one-third slump in half-way operating profit on flat revenue, as delays in engine deliveries for its upgraded A320neo hit interim earnings.

The world's second largest planemaker after Boeing stuck to its financial targets and production plans, but suggested reaching its 2017 delivery target depended essentially on deliveries from Pratt & Whitney.

Airbus also disclosed a new output cut for the world's largest airliner, saying it would now deliver eight...