Airbus targets 800 aircraft deliveries for 2024 even as supply chain issues linger

By AP News

Feb 15, 2024

2 min read

Airbus says it plans to deliver more aircraft to customers in 2024 even as supply chain headaches continue to afflict the European airplane maker

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France Airbus Earns

PARIS (AP) — Airbus plans to deliver more aircraft to customers in 2024 even as supply chain headaches continue to afflict the European airplane maker.

The company reported healthy results for its commercial aircraft business Thursday in its latest annual earnings report, and signaled that there was more to come this year by setting a target of 800 commercial aircraft deliveries, 65 more than in 2023.

"We progressed on our production ramp-up against a backdrop of an operating environment that remains complex and affected by supply chain challenges and geopolitical conflicts so at the end that's quite an achievement in my view," CEO Guillaume Faury said.

Airbus's fortunes contrast with struggles at U.S. rival Boeing, which is battling manufacturing quality control concerns after an emergency door panel blew off a 737 Max 9 jetliner last month.

Faury indicated that Airbus wouldn't see any short-term bump from airlines that want to switch suppliers as it already has a hefty order backlog for its A320 narrow-body jets that compete directly with Boeing's 737 family.

“What’s happening in the broader industry - you refer to the situation of the competitor - has obviously an impact on all of this,” Faury told reporters at its headquarters in Toulouse, France. But he said the company is focused on its order backlog with existing customers “that’s independent from what could happen outside."

Openings for new airplane orders won't be available until the next decade, “so that would more impact the long term competitive positioning of the two companies rather than the short term,” Faury said.

Airbus reported that adjusted earnings before interest and tax rose 4% to 5.8 billion euros ($6.2 billion) as revenue climbed 11%. It also announced plans to pay shareholders a special dividend on top of the regular dividend, reflecting growth prospects and a strong balance sheet including a cash pile that rose 14% to 10.7 billion euros.

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