Airbus Keeps 770 Plane Delivery Goal Despite Supply Issues

Airbus has decided to stick to its plan of delivering 770 aircraft in 2024, even though it's facing some big problems with its supply chain. This news came after the company reported better-than-expected earnings for the third quarter. Airbus made €1. 41 billion before interest and taxes, which was more than what analysts were expecting. The company delivered 497 commercial jets in the first nine months of the year. Some people thought Airbus might lower its delivery target because of the supply chain issues. But Airbus is still aiming high. Airbus is also going through some changes in its leadership. The CEO of MTU Aero Engines, Lars Wagner, will replace Christian Scherer, who has been with Airbus for 40 years. The company's board also plans to extend Guillaume Faury's term as CEO to keep things steady during this important time. Airbus expects to make €5. 5 billion before interest and taxes this year, with a free cash flow of about €3. 5 billion. The company's revenue grew by 5. 4% in the third quarter, reaching €15. 7 billion. This growth is thanks to Airbus focusing on delivering bigger, more profitable planes to meet the increasing demand for passenger travel. After the announcements, Airbus's stock price went up by 3. 2% in New York. This shows that investors are feeling positive about the company. Airbus is facing tough competition, especially from Boeing, which has had to stop production due to strikes and regulatory issues. As airlines look for more fuel-efficient planes, Airbus is in a race to deliver its planes quickly. Faury said that the company is doing its best to adapt to the challenging environment. Airbus plans to make four A330 planes each month and increase A350 production to 12 per month by 2028. But Faury also warned that there are still some supply chain challenges, especially with the A350 program. These challenges might affect how quickly Airbus can increase production. Airbus also wants to make more A320neo family planes each month, reaching 75 by 2027. It also plans to make 14 A220 planes each month by 2026. The delivery of the first A321XLR is a big step for the company as it tries to meet the changing needs of the market. Even though commercial aircraft revenue went up by 4% to €32. 9 billion in the first nine months, the adjusted profitability of this division went down by 6% to just over €3 billion. Airbus says this is because they are investing in the future. Faury said that the company is focused on delivering more commercial aircraft and making changes to its defense and space branch.