Airbus’s performance prompts increase in full-year guidance
Airbus’s third quarter results performed better than expected, prompting the company to increase its full-year guidance for 2021 to 600 commercial aircraft deliveries and an EBIT Adjusted of €4.5bn.
“Based on our nine-month performance, we have updated our 2021 earnings and cash guidance,” said Airbus’s chief executive Guillaume Faury. “We are strengthening the balance sheet to secure investment for our long-term ambitions.”
The aircraft manufacturer delivered 424 commercial planes in the first nine months of this year, with revenues increasing 17 per cent to €35.2bn compared with the previous year.
Free cash flow increased from €-11.7bn to €2.2bn, while the gross cash position increased by €300m to €21.7bn.
“The nine-month results reflect a strong performance across the company as well as our efforts
on cost containment and competitiveness,” added Guillaume Faury. “As the global recovery continues, we are closely monitoring potential risks to our industry.”
Faury revealed that the company is currently working on ramping up the A320 fleet of aircraft, which it is expected to reach the 65 per month production target by 2023.