(News Bulletin 247) – The first quarter results of Boeing’s rival fell sharply over the first three months of the year. The company, however, exceeded expectations.

Airbus pays its beginning of the year down on aircraft deliveries. Boeing’s rival aeronautical group thus saw all of its results contract in the first three months of the year, the fault of lower shipments to its customers, with 127 aircraft delivered against 142 in the first quarter of 2022. that most of the payment for an aircraft by a customer takes place on delivery.

As a result, revenues fell by 2% to 11.7 billion euros over the first three months of the year. Adjusted operating profit, a key measure of the group’s profitability, fell 39% to 773 million euros, while net profit fell 62% to 466 million euros.

Indicator followed by analysts, cash generation went into the red, Airbus burning 890 million euros in cash over the period.

According to a consensus available on the company’s website, analysts were expecting a turnover of 11.37 billion euros, an adjusted operating profit of 736 million euros and a profit of 528 million euros. The cash was expected to be negative at 1.1 billion euros.

Confirmed goals

Airbus confirmed its 2023 targets of aircraft deliveries of 720 units, adjusted operating profit of €6 billion and cash generation of €3 billion.

“Our 2023 guidance remains unchanged with commercial aircraft deliveries more concentrated in the latter months of the year. We will focus our attention on the ramp-up of commercial aircraft production and our long-term transformation,” said declared Guillaume Faury, the executive chairman of Airbus quoted in a press release.

Airbus has also clarified its production trajectory on its flagship model, the A320 family, a single-aisle aircraft which is the group’s big blockbuster.

“With regard to the A320 program, the company is progressing to reach a rate of 65 aircraft per month by the end of 2024. The recently announced decision to create a second final assembly line in Tianjin will strengthen the industrial capacities of Airbus by increasing to 10 the number of FAL (final assembly line, editor’s note) dedicated to the A320 family and thus supporting the production target of 75 aircraft per month in 2026″, indicated the company.

“The A321XLR flight test program is progressing with an expected operational entry into service in the second quarter of 2024,” Airbus also announced. The A321XLR is a versatile single-aisle aircraft which was the big star of the 2019 Paris Air Show. It allows certain long-haul flights to be carried out by connecting the East of the United States to cities in Western Europe and even beyond. .

The group also announced the postponement of its A350F, the cargo version of its A350 jumbo jet, with entry into service “postponed to 2026”.