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Airbus Chief Describes Expansion Plans, but Promises no Drop in Safety, Quality

Targets Will Bump Production Numbers in Nearly Every Market, Capitalizing on Competitor's Misfortune

Airbus capped off its 1st quarter reporting with fairly positive news despite challenges to its logistical operations around the world, seeing EBIT adjusted revenues of € 0.6 billion.

Airbus CEO Guillaume Faury was clear that what they managed to do was pretty good, all things considered. He said the stares down an "operating environment that shows no sign of improvement," adding that the "geopolitical and supply chain tensions continue" on all fronts. Even so, he pointed out that Airbus managed to deliver 142 commercial aircraft, with overall revenues of €12.8 billion, (EBIT Adjusted €0.6 billion), and EPS of €0.76 billion. Free cash flow wasn't so great, with about €1.8 billion coming out of Airbus' pockets to keep things chugging along. Faury said that the guidance for this year remains unchanged, though, thanks to "solid order intake across our businesses."

Airbus is likely going to make some hay out of their competitor, Boeing's, misfortunes, too. Faury noted a "strong momentum on widebody aircraft" which "underpins our decision to increase the production rate for the A350 to 12 aircraft a month in 2028." The ramp up continues, which does require a good deal of investment on the company's part - Faury was careful to make mention that every aspect of the production increase would be "relying on our core pillars of safety, quality, integrity, compliance and security.” It's not too surprising, given Boeing's recent production embarrassments, that Faury is quick to assuage concerns that Airbus expansions would be the same.

Narrowbody production will also be hurried along, with a ramp-up planned to bring A220 manufacture up to 14 aircraft per month by 2026. The A320 is also seeing an increase, with Airbus hoping to produce 75 aircraft per month around the same time frame. While checking in with investors, Faury added that the A321XLR remains on track to enter service in the 3rd quarter of this year, good news for carriers firmly in the Airbus camp. They've been able to enjoy a real show in recent years, watching their competitor's Boeing fleets sit idle during the MAX fiasco, grounded from the recent door plug issue, and now the MAX 7's certification delays. Throughout all those controversies, Airbus has been plugging along, making deliveries and selling aircraft, and there isn't really a quarterly reporting metric for consumer confidence like that. Airbus can't add it to their reports when the booking sites report more customers deselecting Boeing aircraft while shopping for flights. They can't tell investors that a "boring" company is a healthy company, but those who read between the lines might just pick up on a tidbit of pride throughout their announcements. The ball's in Boeing's court.

FMI: www.airbus.com

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