Airbus to deliver 800 commercial aircraft in 2024 despite supply chain woes

15 February 2024 , 15:31

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Airbus will deliver 800 commercial aircraft in 2024 (Photo credit Andrew Matthews/PA Wire)

Airbus, the European plane maker, has set a goal to deliver 800 commercial aircraft in 2024, despite ongoing supply chain issues.

The company shared its positive results for its commercial aircraft business in its latest annual earnings report, and indicated that it plans to deliver 65 more planes than it did in 2023. Chief executive officer Guillaume Faury said: "We progressed on our production ramp-up against a backdrop of an operating environment that remains complex and affected by supply chain challenges and geopolitical conflicts so at the end that's quite an achievement in my view."

This comes as Airbus's American competitor, Boeing, faces manufacturing quality control problems after an emergency door panel blew off a 737 Max 9 jetliner last month. Faury suggested that Airbus wouldn't benefit from airlines wanting to switch suppliers in the short term, as it already has a large order backlog for its A320 narrow-body jets, which directly compete with Boeing's 737 family.

Speaking at the Airbus headquarters in Toulouse, France, he said: "What's happening in the broader industry - you refer to the situation of the competitor - has obviously an impact on all of this," but he said the company is focused on its order backlog with existing customers "that's independent from what could happen outside."

Openings for new aeroplane orders won't be available until the next decade, "so that would more impact the long term competitive positioning of the two companies rather than the short term," Faury said.

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Airbus stated that adjusted earnings before interest and tax rose by 4% making it 5.8 billion euros (£4.9 billion). Meanwhile, revenue climbed by 11%. Additionally, Airbus plans to pay shareholders a special dividend on top of the regular dividend reflecting growth prospects and a strong balance sheet alongside a cash pile increasing by 14% making it 10.7 billion euros.

Lawrence Matheson