Airbus has reported that its consolidated revenues increased by 25 per cent to €30.9 billion in the first half of 2019, fuelled by commercial aircraft deliveries and strong demand for the A220 and A350.
The French manufacturer it seems is benefitting from the uncertainty and problems at chief rival Boeing, who is still reeling from the ongoing grounding of 737 Max aircraft which has hit the US manufacturer’s finances.
Consolidated adjusted EBIT more than doubled to €2.5 billion, up from the €1.16 billion in the first half of 2018. Airbus’ EBIT adjusted increased to €2.33 billion, up on the €867 million in the same period last year.
Gross commercial aircraft orders totalled 213 (1H18: 261 aircraft) with net orders of 88 aircraft (1H18: 206 aircraft). The order book stood at 7,276 commercial aircraft as of 30 June 2019.
A total of 389 commercial aircraft were delivered (1H18: 303 aircraft), comprising 21 A220s, 294 A320 Family, 17 A330s, 53 A350s and 4 A380s.
“The half-year financial performance mainly reflects the ramp-up in production of A320 Family aircraft and transition to the more efficient NEO version, as well as further progress on the A350 financial performance,” said Airbus chief executive officer Guillaume Faury.
“We continue to see good demand for our competitive product portfolio, including the new A321XLR, as shown by the strong market endorsement at June’s Le Bourget airshow. Our operational focus is mainly on the A320neo Family ramp-up.
“The second half of the year in terms of deliveries and in particular free cash flow continues to be challenging. In defence and space, we signed the important contract amendment for the A400M programme.”