Europe-based global major aerospace group Airbus has reported on its performance during the first half of this calendar year (1H24). While its consolidated group revenues, which came to €28.8-billion, were up 4%, year-on-year, its consolidated earnings before interest and taxes (Ebit) adjusted were significantly lower, over the same period – consolidated Ebit adjusted for 1H24 was €1.391-billion, as against the €2.618-billion recorded in 1H23. (Airbus defined Ebit adjusted as “an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses”.)

The group’s Ebit (reported) came to €1.5-billion. Free cash flow before customer financing was €-0.5-billion. Earnings per share (reported) were €1.04.

Airbus Commercial Aircraft saw its revenues increase by 4%, year-on-year, to €28.8-billion, although the division’s Ebit adjusted decreased to €1.954-billion from €2.256-billion in 1H23. This was because of investments by the business to prepare itself for the future. Airbus Helicopters’ revenues were, the group stated, “broadly stable, year-on-year, reflecting a solid performance, notably in services”. Airbus Defence and Space’s revenues increased 7% over the same period, largely the result of the performance of the Air Power business; they would have been higher, if it hadn’t been for “the recent update of Estimates at Completion assumptions in Space Systems”.

“The half-year financial performance mainly reflects significant charges in our space business,” explained Airbus CEO Guillaume Faury. “In commercial aircraft, we are focused on deliveries and preparing the next steps of the [production] ramp-up, while addressing specific supply chain challenges and protecting the sourcing of key work packages.”

In terms of deliveries, Airbus Commercial Aircraft in 1H24 handed over to customers (from its smallest to its largest types) 28 A220, 261 A320-family, 13 A330 and 21 A350 aircraft, for a total of 323 (up from 316 in 1H23). Airbus Helicopters delivered 124 aircraft (down from 145 in 1H23). Airbus Defence and Space delivered four A400M military airlift aircraft (up from three in 1H23).

The production ramp-up of the A220, to 14 per month (rate 14) in 2026, was continuing, with a focus on industrial maturity and financial performance. As announced in June, the production ramp-up of the A320-family has had to be adjusted because of “specific” challenges in the supply chain; rate 75 is now expected to be reached in 2027. Production of A330s is set to reach rate 4 this year, and that of A350s is still targeted for rate 12 in 2028.

The A321XLR (eXtra Long Range) version powered by CFM engines recently received its Type Certification from the European Union Aviation Safety Agency. This is the longest-ranged single-aisle airliner that will be available on the market, capable of intercontinental ranges, and making many new routes viable.