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Airbus has released its financial results for the first half of 2019: its profits increased 72%, reaching 1.98 billion euros ($ 2.20 billion) in the second quarter. The company is tackling cabin issues and employs it to speed up the production of its single-aisle aircraft program.
The CEO of Airbus, Guillaume Faury, attends a press conference at the Airbus Pavilion during the International Exhibition of Aeronautics and Aeronautics in Paris, June 20, 2019, at the Paris Air Show. Bourget airport, near Paris. (Photo ERIC PIERMONT / AFP) (Photo
AFP / Getty Images
The company recorded a 23% increase in revenues, to 18.3 billion euros (20.4 billion dollars) and a net profit up 443%, to 1.157 billion euros (1.29 billion euros) of dollars). The profits of the commercial aircraft division increased 127% to 1.759 billion euros (1.962 billion US dollars).
"The half-year financial performance mainly reflects the acceleration of A320 family aircraft production and the move to the more efficient version of the NEO, as well as the progress made in the financial performance of the aircraft. "A350," said Guillaume Faury, Airbus' chief executive. "We continue to see good demand for our competitive product portfolio, including the new A321XLR, as demonstrated by the strong market acceptance at the June Le Bourget air show. Our operational objective mainly concerns the ramp-up of the A320neo family. The second half in terms of deliveries and in particular free cash flow continues to be difficult. "
The company recorded 88 commercial aircraft orders in the first half, compared with 206 in the first half of 2018, and announced a backlog of 7,276 commercial aircraft at the end of June.
Airbus reports problems related to accelerating the production of the Airbus Cabin Flex (ACF) version of the A321 model and announced that it "is studying various options to increase the share of A321. in the current production capacity of the A320 family ".
Chief IAG Willie Walsh spoke about the 70-day production delays of Airbus in the A320neo program as a reason to place an order of 24 billion USD to Boeing for the 737 MAX. Airbus delivered 294 A320 family aircraft this year, including 234 NEOs.
Airbus also addressed ongoing disputes between the WTO and Boeing and US-imposed tariffs on new aircraft and helicopters, as well as their components.
"If the USTR (US Trade Representative) decides to impose tariffs on Airbus products and other products from the EU, this could affect significantly the delivery of new Airbus aircraft and helicopters to the US market and have a negative impact on the financial position of Airbus. operating results, "said the European aircraft manufacturer. "The EU's possible decision to impose tariffs on US products could come at a later stage. Airbus continues to support a result via a negotiated solution. "
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Airbus has released its financial results for the first half of 2019: its profits increased 72%, reaching 1.98 billion euros ($ 2.20 billion) in the second quarter. The company is tackling cabin issues and employs it to speed up the production of its single-aisle aircraft program.
The CEO of Airbus, Guillaume Faury, attends a press conference at the Airbus Pavilion during the International Exhibition of Aeronautics and Aeronautics in Paris, June 20, 2019, at the Paris Air Show. Bourget airport, near Paris. (Photo ERIC PIERMONT / AFP) (Photo
AFP / Getty Images
The company recorded a 23% increase in revenues, to 18.3 billion euros (20.4 billion dollars) and a net profit up 443%, to 1.157 billion euros (1.29 billion euros) of dollars). The profits of the commercial aircraft division increased 127% to 1.759 billion euros (1.962 billion US dollars).
"The half-year financial performance mainly reflects the acceleration of A320 family aircraft production and the move to the more efficient version of the NEO, as well as the progress made in the financial performance of the aircraft. "A350," said Guillaume Faury, Airbus' chief executive. "We continue to see good demand for our competitive product portfolio, including the new A321XLR, as demonstrated by the strong market acceptance at the June Le Bourget air show. Our operational objective mainly concerns the ramp-up of the A320neo family. The second half in terms of deliveries and in particular free cash flow continues to be difficult. "
The company recorded 88 commercial aircraft orders in the first half, compared with 206 in the first half of 2018, and announced a backlog of 7,276 commercial aircraft at the end of June.
Airbus reports problems related to accelerating the production of the Airbus Cabin Flex (ACF) version of the A321 model and announced that it "is studying various options to increase the share of A321. in the current production capacity of the A320 family ".
AIG President, Willie Walsh, explained that Airbus' production delays in the 70-day A320neo program warranted the placing of a $ 24 billion order from Boeing for the 737 MAX. Airbus delivered 294 A320 family aircraft this year, including 234 NEOs.
Airbus also addressed ongoing disputes between the WTO and Boeing and US-imposed tariffs on new aircraft and helicopters, as well as their components.
"If the USTR (US Trade Representative) decides to impose tariffs on Airbus products and other products from the EU, this could affect significantly the delivery of new Airbus aircraft and helicopters to the US market and have a negative impact on the financial position of Airbus. operating results, "said the European aircraft manufacturer. "The EU's possible decision to impose tariffs on US products could come at a later stage. Airbus continues to support a result via a negotiated solution. "
