Airbus plans to achieve a target of 720 commercial aircraft deliveries by 2023-end

Airbus reported gross commercial aircraft orders totalling to 1,080 and net orders of 1,044 aircraft after cancellations. The order backlog amounted to a record 7,967 commercial aircraft at the end of June 2023. Airbus Helicopters registered 131 net orders spread across all programs.

Airbus reported consolidated revenue of € 27.7 billion recording an increase of 11% year-on-year. The consolidated revenue during H1 of 2022 was € 24.8 billion. Airbus delivered a total of 316 commercial aircraft comprising of 25 A220s, 256 A320 Family, 14 A330s and 21 A350s. Revenues generated by Airbus’ commercial aircraft activities increased 16 percent, mainly reflecting the higher number of deliveries. The deliveries in H1 of 2022 stood at 297 units. Airbus Helicopters’ deliveries increased to 145 units mainly driven by the Light helicopter segment.

Airbus’ consolidated net income stood at € 1,526 million while consolidated free cash flow before M&A and customer financing was € 1,574 million. Airbus consolidated free cash flow was 1,474 million, showing a decline over H1 of 2022 figure of € 1,646 million.

The gross cash position stood at € 22.9 billion at the end of June 2023 with a consolidated net cash position of € 9.1 billion.

The Division’s revenues rose 16% mainly reflecting a solid performance across programmes and services.

“During the first half of 2023 we progressed well across our businesses in an operational environment that remains complex. Our commercial aircraft are in strong demand, as demonstrated by more than 800 orders announced at the Paris Air Show. This demand is driven both by growth and fleet replacement as airlines invest in more fuel-efficient fleets,” said Guillaume Faury, chief executive, Airbus. “Based on this H1 performance, we maintain our 2023 guidance.”

Airbus’ consolidated EBIT adjusted was € 2,618 million while adjusted EBIT related to Airbus’ commercial aircraft activities was broadly stable at € 2,256 million. Airbus attributed this to positive effect from increase in deliveries, supported by a more favourable hedge rate, was partially reduced by investments for preparing the future.

Comparatively H1 2022 included the non-recurring positive impact from retirement obligations partly offset by the impact resulting from international sanctions against Russia

Airbus has ramped up its A220 programme continuing towards a monthly production rate of 14 aircraft in the middle of the decade. On the A320 Family programme, production is progressing well towards the previously announced rate of 75 aircraft per month in 2026.

On widebody aircraft, the Company continues to target rate 4 for the A330 in 2024 and rate 9 for the A350 at the end of 2025.

Airbus Helicopters’ EBIT Adjusted increased to € 274 million reflecting the solid performance across programmes and services. H1 2022 also included net positive non-recurring elements.

Airbus’ consolidated self-financed R&D expenses totalled € 1,431 million while the consolidated EBIT amounted to € 1,887 million including net Adjustments of € -731 million.

Going ahead, Airbus plans to achieve a target of 720 commercial aircraft deliveries by the end of 2023, adjusted EBIT of € 6.0 billion and free cash flow before M&A and Customer Financing of € 3.0 billion.