TOULOUSE (AFP) – European aircraft maker Airbus said yesterday net profits rose in 2024 as it boosted plane deliveries and set a goal of accelerating them further.
Net profit rose 12 per cent to EUR4.2 billion (USD4.4 billion), overcoming a massive writedown in the value of its space business earlier in the year. Aircraft deliveries rose by 4.2 percent to 766, helping revenues climb by six per cent to EUR69.2 billion. Deliveries are an important indicator as airlines pay for aircraft when they receive them.
Airbus and its rival Boeing, as well as their suppliers, have struggled to scale production back up after having cut staff and output during the COVID-19 pandemic that nearly shut down international air travel.
They both have huge order backlogs as airlines have placed orders for the latest fuel-saving aircraft that offer lower operating costs.
Net orders tumbled from a bumper year in 2023, falling from 2,094 to 826, but the company noted they still surpassed deliveries.
“We achieved strong order intake across all businesses in 2024, with a book-to-bill well above 1, confirming the solid demand for our products and services,” chief executive Guillaume Faury said in a statement.
“We delivered on our 2024 guidance in what was a testing year for Airbus,” he added, noting the transformation of its space business.
Airbus announced in June that it had decided to make a roughly EUR900-million charge against first-half earnings after an extensive review of its space business.
