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Airbus upholds full-year targets as Q3 profit rises
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Airbus upholds full-year targets as Q3 profit rises
Nov 3, 2024 3:06 PM

PARIS, Oct 30 (Reuters) - Airbus maintained

financial and industrial targets as it posted

higher-than-expected third-quarter core profit and revenues on

Wednesday, led by demand for profitable models and a favourable

annual comparison for its troubled space business.

The world's largest planemaker said its widely-watched

adjusted operating profit rose 39% to 1.407 billion euros

($1.53 billion) in the quarter as revenues rose 5% to 15.689

billion.

Analysts were on average expecting third-quarter operating

profit of 1.2 billion euros on revenues of 15.302 billion,

according to a company-compiled consensus.

Airbus earlier announced it had delivered the first

long-range single-aisle A321XLR jet to Spain's Iberia

and secured an order for 60 jets from Saudi startup Riyadh Air.

CEO Guillaume Faury said Airbus continued to face complex

supply chain and geopolitical challenges but held fast to its

commercial delivery target of about 770 jets in 2024, despite

previously reported deliveries that missed market expectations

in the first nine months of the year.

"We remain focused on our priorities, including ramping

up commercial aircraft deliveries and transforming our Defence

and Space division," he said in a statement.

Airbus took no new charges for its satellites business

after 1.5 billion euros of charges in recent quarters but it has

indicated that more could follow as it digs further into losses

in satellites, particularly for its troubled OneSat project.

Airbus reaffirmed production goals but said it was

"actively managing" a specific supply chain problem that could

impact the ramp-up trajectory for the A350 in 2025, without

elaborating.

Reuters reported earlier this month that Airbus was

facing concerns over supplies of parts from Spirit AeroSystems ( SPR )

, raising the prospect of delays in deliveries of some

jets including the long-haul A350 next year.

($1 = 0.9205 euros)

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