Airbus SE has reported its consolidated financial results for the Half-Year (H1) ended 30th June 2024.
Gross commercial aircraft orders totalled 327 (H1 2023: 1,080 aircraft), with net orders of 310 aircraft after cancellations (H1 2023: 1,044 aircraft). The order backlog amounted to 8,585 commercial aircraft at the end of June 2024.
Consolidated revenues increased 4% year-on-year to €28.8 billion (H1 2023: €27.7 billion), mainly reflecting the number of commercial aircraft deliveries and a higher volume in the Air Power business of Airbus Defence and Space.
Airbus delivered a total of 323 commercial aircraft in H1 2024 (H1 2023: 316 aircraft), comprising 28 A220s, 261 A320 Family jets, 13 A330s and 21 A350s. The revenues generated by Airbus’ commercial aircraft activities increased 4%, which the company says mainly reflects the higher number of deliveries. Airbus’s consolidated self-financed R&D expenses for H1 2024 totalled €1,593 million (H1 2023: €1,431 million).
On the basis that Airbus will not be affected by additional disruptions to the world economy, air traffic, its supply chain, its internal operations, or its ability to deliver products and services, Airbus has set a target of achieving around 770 commercial aircraft deliveries by the end of 2024.
“The half-year financial performance mainly reflects significant charges in our space business. We are addressing the root causes of these issues,” said Guillaume Faury, Airbus’s chief executive officer. “In commercial aircraft, we are focused on deliveries and preparing the next steps of the ramp-up, while addressing specific supply chain challenges and protecting the sourcing of key work packages.”
Commercial aircraft deliveries
Looking at Airbus’s deliveries of commercial aircraft in H1 2024, across the A220, A320 Family, A330 and A350 models, these are the key figures:
The A220 ramp-up has continued, moving towards a monthly production rate of 14 aircraft in 2026, with a focus on the programme’s industrial maturity and financial performance. In addition, on 24th June 2024, in line with agreements in place and as planned, Airbus SE and Investissement Québec agreed to provide shareholder financing for the Airbus Canada Limited Partnership, which is responsible for the development and manufacturing of the A220 family of single-aisle passenger aircraft.
As announced in June 2024, the A320 Family ramp-up trajectory has been adjusted to reflect specific supply chain challenges. The production rate of 75 A320 Family aircraft per month is now expected in 2027.
Major developments have been made in advancing the A321XLR extra-long-range narrowbody aircraft programme. The A321XLR powered by CFM engines received its Type Certification from the European Union Aviation Safety Agency (EASA) earlier in July. Entry-into-service is expected at the end of the summer 2024.
Another step in Airbus’s progress towards serial production of the A321XLR ahead of its entry-into-service was the inauguration in July of hangar 246 at the Airbus site in Hamburg, a former A380 hangar with a 24,000 square metre production area.
For its widebody aircraft, Airbus continues to target a production rate of four A330s per month in 2024, and rate 12 for the A350 in 2028.
More details of the H1 results can be found on the Airbus site.
