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Airbus lifts delivery targets

By Hazel Davis

In an all-time high, the French planemaker aims to hand over 880 jets in 2020

Airbus has lifted its delivery targets to an all-time high for 2020, despite a multibillion-euro bribery settlement with authorities in three countries. The European multinational lost €1.36bn (£1.14bn, $1.48bn) in 2019 but plans to hand over around 880 jets in 2020, an increase from 862 in 2019.

The French planemaker has delivered what chief executive Guillaume Faury described in a company statement as a “strong underlying financial performance driven mainly by our commercial aircraft deliveries”.

Airbus has raised its predicted dividend by 9 per cent to €1.80 and posited a full-year free cashflow of €4bn, up from €3.5bn in 2019.

Meanwhile rival Boeing is still working on getting its 737 Max ready to fly again. The plane has been grounded since March, after two crashes that killed 346 people. The aircraft is expected to be ready by the middle of 2020.

Airbus company hit production difficulties with its A320 narrow-body model last year but says discussions are underway to add one or two more a month after 2021. It has also reached a deal to buy the remaining stake of Canadian plane and train company Bombardier in the A220 passenger jet programme.

Shares in Airbus have gained 4.7 per cent this year.

FURTHER READING: AirAsia CEO and chairman step aside following Airbus bribery investigation

FURTHER READING: Airbus adds A321 production capacity at Toulouse

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