BCN-38 Airbus profits more than double in first half

483

ZCZC

BCN-38

GERMANY-AVIATION-EARNINGS-LUFTHANSA

Airbus profits more than double in first half

PARIS, July 31, 2019 (BSS/AFP) – European aerospace giant Airbus Wednesday
reported profits more than doubled in the first half of the year, a strong
result it attributed mainly to increased production of its A320 family of
aircraft.

It said net profits reached 1.197 billion euros ($1.34 billion), up from
496 million euros in the same six-month period last year.

“The half-year financial performance mainly reflects the ramp-up in
production of A320 Family aircraft and transition to the more efficient NEO
version, as well as further progress on the A350 financial performance,”
Airbus CEO Guillaume Faury was quoted as saying in a statement.

“We continue to see good demand for our competitive product portfolio,
including the new A321XLR, as shown by the strong market endorsement at
June’s Le Bourget airshow.”

However, he said that the second half of the year “in terms of deliveries
and in particular free cash flow continues to be challenging”.

The group delivered a total of 389 commercial aircraft during the six
months, up from 303 in the same period in 2018, including 21 A220s, 294
aircraft of the A320 family, 234 of which were the NEO version, 17 A330w, 53
A350s and four A380s.

It aims to make between 880 and 890 deliveries during the whole of 2019.

BSS/AFP/HR/1200