Airbus has reported its consolidated financial results for the Half-Year (H1) ended 30 June 2023.
Despite operating in a complex environment, the company has made significant progress across its businesses during the first half of the year.
The positive developments have been attributed to the strong demand for commercial aircraft, with more than 800 orders announced at the prestigious Paris Air Show.
The surge in demand can be attributed to both growth and fleet replacement as airlines seek to invest in more fuel-efficient fleets. Guillaume Faury, Airbus’ Chief Executive Officer, expressed his satisfaction with the H1 performance and reaffirmed the company’s 2023 guidance.
The H1 2023 results showcase a remarkable increase in commercial aircraft orders for Airbus. The gross commercial aircraft orders soared to 1,080, as opposed to 442 aircraft in H1 2022.
After accounting for cancellations, the net orders stood at 1,044 aircraft (compared to 259 aircraft in H1 2022). This astounding performance has contributed to an unprecedented order backlog of 7,967 commercial aircraft by the end of June 2023.
Airbus Commercial Aircraft Activities
The positive trend in aircraft orders has had a direct impact on Airbus’ commercial aircraft activities’ revenues. The revenues surged by an impressive 16 percent, primarily driven by an increased number of aircraft deliveries.
The company has been making strides in various aircraft programs, such as the A220 and A320 Family, further enhancing their production rates.
A220 and A320 Family Programmes Progress
The A220 programme continues its upward trajectory, with the goal of achieving a monthly production rate of 14 aircraft in the middle of this decade. Likewise, Airbus is diligently working towards producing 75 aircraft per month for the A320 Family programme by 2026.
To ensure the successful attainment of this target rate, the company remains flexible and ready to make tactical adjustments to its production planning.
A significant milestone in Airbus’ development is the inauguration of a new A321 capable final assembly line in Toulouse. This state-of-the-art facility bolsters Airbus’ global industrial system and allows for more efficient production processes.
Additionally, the flight test programme for the A321XLR is progressing smoothly, with the expected entry-into-service scheduled for Q2 2024.
Widebody Aircraft Projections
Airbus has set ambitious targets for its widebody aircraft. The A330 is expected to reach rate 4 in 2024, while the A350 is projected to reach rate 9 by the end of 2025. These targets reflect the company’s commitment to meeting the demands of the market and ensuring timely deliveries to its customers.