Airbus raised a manufacturing purpose for wide-body A350 jets and reaffirmed monetary and supply targets for 2023 because it posted larger underlying third-quarter revenue on Wednesday, with sharply larger jet earnings dampened by prices in satellites.
The world’s largest planemaker mentioned it was aiming to return to pre-COVID ranges of 10 A350 jets a month in 2026, up from a earlier purpose of 9 a month by end-2025. Different industrial targets, together with 720 jet deliveries in 2023, had been unchanged.
Adjusted working earnings got here in at 1.013 billion euros ($1.08 billion) within the quarter, up 21%, as revenues rose 12% to 14,897 billion. Analysts anticipated earnings of 1.142 billion euros on revenues of 15.098 billion, in keeping with a company-compiled consensus.
Airbus mentioned it was seeing robust demand in business plane, together with a seamless rebound in huge jets just like the A350, however anticipated the provision chain to stay “difficult”.
Manufacturing on the corporate’s most important profit-generating programme the Airbus A320 household, is “progressing nicely” in direction of a beforehand introduced goal of 75 a month in 2026, Airbus mentioned. Trade sources say present manufacturing stands within the low 50s.
It reaffirmed plans for a restructuring in its defence and house division, the place it reported new prices of 300 million euros on “sure satellite tv for pc improvement programmes,” with out elaborating. That got here after 100 million earlier within the 12 months.
Dangers stay on prices, reliability and manufacturing volumes of the A400M navy transporter, Airbus mentioned, with some international locations reported to be balking on the measurement of their unique orders.
First Revealed: Nov 08 2023 | 11:33 PM IST