Despite a challenging geopolitical and economic environment, Airbus posted solid financial performance for the first quarter ended March 31, 2022.
To meet customer demand, the European manufacturer stated it will expand monthly production rates from 65 A320 family aircraft in summer 2023 to 75 in summer 2025.
- The European manufacturer recorded revenues of €12 billion for the quarter, up from €10 billion the year before.
- Despite substantial disruptions in air travel caused by the COVID-19 epidemic, Russia’s invasion of Ukraine, and the resulting export control restrictions and international sanctions, consolidated net income increased from €362 million in Q1 2021 to €1.22 billion in Q1 2022.
Guillaume Faury, Airbus chief executive officer, confirmed that the company would progressively ramp up A320 production in the next three years.
"We see continued robust growth in commercial aircraft demand driven by the A320 Family through 2022," Faury said.
“As a result we are now working with our industry partners to increase A320 Family production rates further to 75 aircraft a month in 2025.
This ramp-up will benefit the aerospace industry’s global value chain.”
As a reminder, Airbus was only producing 45 A320 aircraft per month at the end of 2021.
However, the firm still faces one major challenge.
Airbus announced a delay in the development of the A321XLR on April 4, 2022, with an entry into service date set for early 2024.
The European Union Aviation Safety Agency is in negotiations with Airbus about making improvements to a lower-fuselage design that could cause fires.
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