The aircraft manufacturer aims to reinforce one of its main lines.
Photo: EFE – HOW HWEE YOUNG
Airbus will further increase production of its advanced A350 widebody aircraft as the planemaker benefits from increased demand and as its archrival Boeing Co. remains absorbed by a crisis of confidence.
The European aircraft manufacturer is moving at a pace of 12 A350 aircraft per month by 2028, superseding earlier plans to reach 10 by 2026, it said while reporting figures for the first quarter. Earnings before interest and taxes reached 577 million euros ($619 million), below the 814 million euros forecast by analysts in a Bloomberg survey, amid higher costs.
The company had a cash outflow of €1.79 billion due to increased inventory created in preparation for increased production, as well as supply chain issues. Revenue rose to €12.8 billion and Airbus reiterated its guidance issued in February.
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Airbus has enjoyed a quieter start to the year than Boeing, which has been mired in crisis after a near-catastrophic accident in early January. As a result, the American plane maker has grabbed much of the public attention in the global aircraft manufacturing duopoly, while Airbus has quietly pressed its advantage, winning orders from Boeing loyalists clamoring for more planes.
Airbus SE will further ramp up production of its advanced A350 wide-body jet as the planemaker benefits from surging demand and as archrival Boeing Co. remains engulfed by a crisis of confidence.
The European planemaker is moving at a pace of 12 A350 aircraft per month by 2028, replacing earlier plans to reach 10 by 2026, it said as it reported figures for the first quarter. Earnings before interest and taxes reached 577 million euros ($619 million), below the 814 million euros forecast by analysts in a Bloomberg survey, amid higher costs.
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The company had a cash outflow of €1.79 billion due to increased inventory created in preparation for increased production, as well as supply chain issues. Revenue rose to €12.8 billion and Airbus reiterated its guidance issued in February.
Airbus has enjoyed a quieter start to the year than Boeing, which has been mired in crisis after a near-catastrophic accident in early January. As a result, the American plane maker has grabbed much of the public attention in the global aircraft manufacturing duopoly, while Airbus has quietly pressed its advantage, winning orders from Boeing loyalists clamoring for more planes.
Faury said earlier this week that he has received requests from airlines that traditionally ordered Boeing planes, but that the European company cannot meet that demand as it is sold out of its best-selling A321neo aircraft through 2030.
