Because, among other things, engines are missing, Airbus will only deliver around 700 machines this year.
(Photo: Reuters)
toulouse Airbus boss Guillaume Faury said last week that the world’s largest aircraft manufacturer would “under no circumstances” give up its production targets for 2022. When presenting the half-year figures on Wednesday, Faury then struck a different tone: Due to delays at important suppliers, the group will now deliver around 700 commercial aircraft in the current year, 20 fewer than planned.
In the first six months, Airbus handed over 297 machines to its customers – a good 40 percent of the annual target. “We have come to the conclusion that the supply chains are not able to support our original plan,” says Faury. It is “difficult to catch up in the second half of the year”.
The A320 family, Airbus’ bestseller, is particularly affected. The goal of increasing the production of short- and medium-haul aircraft to 65 per month has been postponed from mid-2023 to early 2024. Faury is sticking to the target of 75 machines from the A320 family per month because of the “strong demand from customers”.
Airbus has to be patient, especially with engines. According to the company, there are currently 26 so-called gliders on its premises. In industry jargon, almost finished new aircraft are referred to that only lack the drives under the wings. Faury wants to bring the number of gliders back to zero by the end of the year.
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Why Airbus is sticking to earnings targets
The Airbus boss said that the suppliers were supported “as much as possible”. “But we also hold them accountable because we rely on them to ramp up production.” Faury recently criticized in an interview with the Financial Times: “Not all engine builders started ramping up production early enough , even though we told them so.”
The Airbus boss emphasized that the global recovery in air traffic after the corona pandemic is continuing. The aircraft manufacturer is sticking to its earnings targets for 2022. Adjusted earnings before interest and taxes (EBIT) are expected to reach 5.5 billion euros this year, compared to 4.9 billion euros last year.
In the first half of 2022, Airbus “delivered a solid financial performance in a complex business environment,” said Faury. In addition to the problems in the supply chains, the shortage of skilled workers and rising energy prices are also making themselves felt at the aircraft manufacturer.
In the first six months, Airbus was able to maintain the level of the same period last year with an EBIT of 2.65 billion euros. The bottom line was a profit of 1.9 billion euros, which was lower than a year ago due to valuation effects.
The group’s sales in the first half of 2022 were 24.8 billion euros, compared to 24.6 billion euros in the same period last year. The business was supported above all by the armaments division of the group, whose income rose by 26 percent from 3.9 to 4.9 billion euros.
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