Listen to the audio version of the article
European manufacturer Airbus reported better-than-expected underlying operating profit for the second quarter and reaffirmed its full-year financial targets including deliveries of 720 aircraft by the end of the year.
The world‘s leading aircraft maker reported net profits up 55% over the same period a year earlier to 1.060 billion euros and revenues up 24% to 15.9 billion euros supported by higher aircraft deliveries. Semester earnings fell by 20% to 1.526 billion euros in the first half of 2022. “The operating environment remains complex,” said CEO Guillaume Faury in a statement.
A new problem with the Pratt & Whitney engines fitted to 45% of the Airbus A320s has led some analysts to fear that the Toulouse-based manufacturer’s objectives may be at risk: RTX has revealed that around 1,200 engines will have to be removed and checked in the coming 12 months.
Airbus said it was progressing well towards its A320neo Family aircraft production target of 75 aircraft per month by 2026, while glossing over its interim target of 65 aircraft per month by 2024 previously stated. “Tactical adjustments to production planning will continue to be made as required to meet the target rate (75 per month), which is now the key benchmark for the company and the supply chain,” Airbus said in a statement. .