Airbus Maintains Stable Growth Amid Global Challenges

08 de noviembre de 2023 - 20:08

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Airbus has disclosed its performance for the first nine months of 2023, with a solid delivery in commercial aircraft and steady revenue flow.

Despite the increasing complexity of the global market, Airbus has managed to deliver 488 commercial aircraft in the period ending September 2023, contributing to revenues amounting to €42.6 billion and an EBIT Adjusted of €3.6 billion. Earnings per share (EPS) stood at €2.96, with a free cash flow before mergers and acquisitions (M&A) and customer financing reported at €1 billion.

CEO Guillaume Faury highlighted the robust demand for Airbus’s commercial aircraft, with a total of 1,280 gross orders and a backlog of 7,992 aircraft. Despite the known issues that arose with some Pratt & Whitney GTF engines, the manufacturer has maintained its full-year guidance confidently.

Faury emphasized that the current updates will not affect deliveries in 2023. He noted that these revisions might influence the choice of engines for new aircraft in the next fiscal year, with a shift toward selecting CFM LEAP engines being a likely outcome.

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Even though CFM has also scaled back its production target, Airbus still maintains their aim of reaching 75 aircraft per month by 2024. Faury remains hopeful that CFM will uphold their commitment to this goal, despite the inconveniences the situation is creating now.

Spirit AeroSystems, grappling with production quality concerns for components it manufactures for Boeing, is also navigating complex negotiations with Airbus over the A220 and A350 parts produced in Belfast.

Recently, Spirit revealed that its work on the A220 program is currently unprofitable. However, Airbus CEO Guillaume Faury has indicated that their circumstances differ from Boeing’s and that Airbus is actively collaborating with Spirit to offer support to its customers.

Airbus Helicopters have witnessed a favorable outcome with 191 net orders, and the Defence and Space segment experienced a slight decline due to delays and satellite development program reassessments. However, order intake remained strong at €8.5 billion.

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The company is progressing towards a monthly production rate of 14 A220 aircraft by 2026 and aims for 75 per month for the A320 family in the same year. Widebody production rates are also set to increase to 10 A350 a month in 2026 and 4 A330 in 2024, a good sign after a steep market shift to narrowbodies.

The long-awaited A321XLR entry-into-service remains set to happen in Q2 2024, as the program continues to advance towards certification.

Airbus’s outlook for 2023 remains unchanged, targeting around 720 commercial aircraft deliveries, an EBIT Adjusted of €6.0 billion, and a free cash flow of €3.0 billion before M&A and customer financing.

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AUTOR

Pablo Diaz (Diazpez)

Desde 2017, haciendo periodismo aeronáutico. Award-Winning Journalist: Ganador de la edición 2023 de "Periodismo de Altura", otorgado por ALTA. Facts don't care about your feelings.

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