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Airbus posts US$1.3 billion Q1 profit
May 6th 2022
When announcing the 2022 first quarter results overnight, Airbus CEO, Guillaume Faury, said the risk profile for the remainder of 2022 had become "more challenging due to the complex geopolitical and economic environment". Read More » In the three months to March 31, the air framer recorded a sharp increase in net profit to 1.2 billion euro (US$1.3 billion), more than three times the 362 million euro net profit the aerospace OEM recorded in the year-ago period. Revenue rose 15%, to 12 billion euro, Airbus said. “Looking beyond 2022, we see continuing strong growth in commercial aircraft demand driven by the A320 family," Faury said. "As a result, we are working with our industry partners to increase A320 family production rates to 75 aircraft a month in 2025." The company’s earnings guidance is unchanged at 720 commercial aircraft deliveries, adjusted earnings before interest and tax of 5.5 billion euro and free cash flow before mergers, acquisitions and customer financing of 3.5 billion euro.
At the Amsterdam presentation, Faury also said the entry into service of the A321XLR had been pushed back to early 2024 from the close of 2023 "in order to meet certification requirements". First flight of the type is still planned for the end of the second quarter of 2022.
