Airbus Raises 2024 Delivery Target to 800 Planes

Airbus plans to deliver about 800 commercial planes this year, 11% more than the target of 720 planes last year that European aviation giant exceeded with actual deliveries of 735 aircraft.

“In 2023 we recorded strong order intake across all our businesses and we delivered on our commitments,” Guillaume Faury, chief executive of Airbus, said in a statement. This was a significant achievement given the complexity of the operating environment.”

Airbus plans to make 75 of its A320 narrow-body jets a month in 2026, the company said Thursday. It also seeks to build four of its A330 wide-body planes a month this year. Output of the bigger A350 passenger plane is forecast to reach 10 a month in 2026.

The production goals come as the aviation industry works to overcome supply-chain constraints, including shortages on raw materials and parts. As Airbus recovered from the pandemic, its goal was to deliver 720 planes in 2022, a target that was postponed to the following year.

Meanwhile, U.S. rival Boeing is grappling with quality-control issues. A midair emergency last month on an Alaska Airlines flight led the U.S. Federal Aviation Administration to temporarily cap Boeing’s production of the 737 Max narrow-body jet as the agency investigates its operation.

Airbus plans to propose a dividend of €1.80 a share for 2023 and a special dividend of €1.00 a share at its yearly general meeting on April 10. Airbus last paid a dividend of €1.80 a share.

Airbus reported revenue rose 11% from a year earlier to €22.89 billion ($24.56 billion) in the three months through the end of December.

Net profit fell 13% to €1.46 billion. Adjusted earnings before interest and taxes rose 3% to €2.21 billion.

Wall Street analysts on average had estimated revenue of €22.47 billion on a net profit of €1.59 billion and adjusted earnings before interest and taxes of €2.27 billion.

Airbus estimated adjusted earnings before interest and taxes will be €6.5 billion to €7 billion in 2024. Free cash flow before customer financing is forecast at approximately €4 billion.

More Airbus delivery related stories: https://airguide.info/?s=Airbus+delivery

Sources: AirGuide Business airguide.info, bing.com, airbus.com, reuters.com