Airbus aims for record deliveries despite disappointing quarter
Airbus needs to deliver 323 aircraft to meet its annual target, but it usually delivers a large number of planes at the end of the year.
European aircraft manufacturer Airbus announced on Wednesday that its third quarter revenues fell as it delivered fewer planes, but remained committed to a record delivery target for the year. The company completed 196 aircraft in the three months ending September 30th, compared to 201 in the same period last year. Revenues dropped by 2% to €17.5 billion, while net profit rose 20% to €1.3 billion.
Despite the challenging geopolitical and operational landscape, Airbus chief executive Guillaume Faury maintained confidence in the company's ability to meet its ambitious target of delivering 870 commercial aircraft this year. This surpasses the 863 delivered in 2019 before the Covid pandemic disrupted the industry. Faury emphasized the company's focus on quality and delivery, stating that their plan and teams are ready to achieve the objectives.
To meet the annual target, Airbus needs to deliver an additional 323 aircraft in the fourth quarter. The company's commercial aircraft unit head, Lars Wagner, expressed confidence in meeting the target, noting that most aircraft are in the final stages of assembly.
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