Airbus boosts third-quarter profit and raises A350 production target
Airbus raised its A350 production target and reaffirmed financial and delivery targets for 2023, while posting a higher underlying third-quarter profit on Wednesday.
The world’s largest aircraft manufacturer stated that it aims to return to pre-COVID levels, with 10 A350 aircraft per month by 2026. Other industrial targets, such as the delivery of 720 jets in 2023, remained unchanged.
Adjusted profit amounted to €1,013 million in the quarter, up 21%, as revenues rose 12% to €14,897 million. Analysts had expected a profit of €1,142 million on revenues of €15,098 million.
Airbus said it was seeing strong demand for commercial aircraft, including a continued pickup in large jets such as the A350, but expected the supply chain to remain “challenging.”
→ Airbus renews its transatlantic fleet with lower-emission ships
Production of the company’s main profit-generating program, the Airbus A320 family, is “progressing well” towards the previously announced target of 75 aircraft per month by 2026, according to Airbus. Industry sources say current production is around 50 aircraft per month.
The manufacturer reaffirmed plans to restructure its defense and space division, where it reported new charges of 300 million euros for “certain satellite development programs”, without giving further details. This figure is in addition to €100 million at the beginning of the year.
According to Airbus, risks remain in terms of cost, reliability and production volumes of the A400M military transporter, and some countries are wary of the size of their initial orders.
With information from Reuters
Plataforma Informativa de Aviación Comercial con 13 años de trayectoria.