Airbus Reaffirms Delivery Target, Names New Jet CEO
Airbus has reaffirmed its target of delivering 770 aircraft in 2024, despite facing ongoing supply chain hurdles, according to its recent financial update. The company’s third-quarter performance highlights Airbus’s progress, achieving 497 aircraft deliveries through September, comprised of 45 A220s, 396 A320 family jets, 20 A330s, and 36 A350s. This marks a slight increase over the same period in 2023, when Airbus delivered 488 aircraft, ultimately reaching 735 by year-end.
In June 2024, Airbus CEO Guillaume Faury adjusted the year’s delivery target from 800 to 770 due to persistent supply chain disruptions. Challenges with component availability have also impacted Airbus’s plans to ramp up monthly production targets, with initial goals to deliver 75 A320 family jets and 10 A350s each month now delayed to 2027 and 2028, respectively.
Faury emphasized the strong demand for Airbus products, stating, “We saw robust demand across our product range in the first nine months of the year. Our earnings reflect a solid level of commercial aircraft deliveries, a strong performance in helicopters, and charges in our space business from the first half.” He noted the need for adaptability in navigating the complex environment shaped by global uncertainties and specific supply chain issues that have arisen in 2024.
Airbus’s third-quarter financial results exceeded analysts’ expectations, with revenues reaching €15.69 billion ($17.05 billion), up 5% from 2023. Adjusted earnings before interest and taxes rose by 39% to €1.41 billion ($1.5 billion), while net income increased by 22%, climbing from €806 million ($876 million) in 2023 to €983 million ($1.06 billion) this year.
“We remain focused on our key priorities, including increasing commercial aircraft deliveries and transforming our Defence and Space division,” Faury added, underscoring Airbus’s commitment to growth despite operational challenges.
New Leadership for Commercial Aircraft
In a strategic leadership move, Airbus announced that Lars Wagner, the current CEO of MTU Aero Engines AG, will join the Airbus Executive Committee to succeed Christian Scherer as the CEO of its Commercial Aircraft division. Wagner has informed MTU of his decision to step down, with his contract concluding on December 31, 2025.
Airbus’s CEO Faury expressed confidence in Wagner’s abilities, stating, “Christian and I are excited to welcome Lars Wagner, a talented industry leader, back to the Airbus family in this critical role. Christian will continue to lead the Commercial Aircraft business with support from his team until the transition to Lars. Together, we are committed to ensuring Airbus’s success in this dynamic and complex industry landscape.”
The Airbus board will recommend at the 2025 Annual General Meeting that Faury continue as CEO, reinforcing leadership stability amid Airbus’s efforts to navigate an evolving global market.
As Airbus moves forward, its focus remains on meeting delivery targets, enhancing production capacity, and leading in innovation, particularly in the commercial jet market, where demand continues to surge. With the transition of the Commercial Aircraft division under new leadership, Airbus aims to sustain growth and adaptability in a competitive aviation landscape.
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