Airbus adjusts jet delivery target as plane maker faces supply chain woes
Airbus has adjusted its annual jet delivery forecast while it continues to battle supply chain woes.
In its quarterly results, the EU plane maker lowered the year’s goal from 720 to 700 jets, adding it will reach its monthly production target of 65 narrow-body jets in 2024 instead of the summer of 2023.
Its 2025 forecast of 75 monthly aircraft as well as its €5.5bn (£4.6bn) adjusted EBIT remained unchanged.
The move comes as the group has posted an adjusted operating profit of €1.38bn (£1.6bn) – down 31 per cent on 2021 levels – while revenues dropped 10 per cent to €12.8bn.
Despite the decrease, profits beat analysts’ expectations of €1.32bn.
“Airbus delivered a solid H1 2022 financial performance in a complex operating environment, with the geopolitical and economic situation creating further uncertainties for the industry,” said chief executive Guillaume Faury.
Airbus was not the only one facing significant supply chain issues, as rival Boeing constraints capped its ability to ramp up production despite “significant” demand.
In the three months ended 30 June, the US manufacturer generated cash from operations in the second quarter of the year, adhering to its $81m cashflow for the year.