Airbus Increased Jet Deliveries In September, Targets 500 Deliveries For 2020

In September, the milestone for delivering the highest number in any month so far this year was achieved by the European plane making giant Airbus.

But the company could not manage any new sales because of the conditions of the global airlines which have been severely hit by the novel coronavirus pandemic.

Compared to delivering 39 planes in the month of August, the European plane maker delivered 57 jets in September. The total number of planes delivered by the company in the first nine months of the current year reached 341 which was 40 per cent lower than the deliveries in the same period in the previous year, according to data available from the company.

That drop in year on year deliveries also tallies with the planned drop in output of the company because of the pandemic crisis. Last month Airbus had decided to leave the new rate of production unchanged. Airbus delivered a large number of jets from a backlog of planes that were parked.

According ot to industry sources, at the beginning of the pandemic, its outlook for the year was cut by Airbus but inter5nally it said that it would target deliveries of about 500 planes for the whole year and the comp-any has now managed to achieve three quarters of that tyargeted deliveries.

In 2019, the company had delivered 863 planes which was a record for it.

The impact of the crisis on demand for flying and airline balance sheets have downed the market for Jets although some deals to bolster its 737 MAX are being chased by the United States plane maker Boeing.  

For the first time in more than ten years, its long-term demand forecasts were cut by Boeing this week while also issuing a warning of a a challenging decade ahead.

Three out of 40 A220 jets originally ordered from Canada’s Bombardier were cancelled by Macquarie Financial Holdings, a unit of Australia’s Macquarie Group, according to Airbus data. Bombardier’s passenger jet programme was sold to Airbus by the company in 2018.

379 aircraft or a net total of 300 after cancellations have been sold so far this year by Airbus.

And compared to its US rival Boeing, the performance of Airbus is significantly better as the American plane maker had sold only 67 aircraft by the end of August and had reported a negative net total of 378 orders primarily because of the cancellations of orders for its Boeing 737 MAX which have been grounded throughout the world for more than 18 months after two fatal crashes that killed about 350 people within a gap of just five months. The 737 MAX plane was involved in both the deadly crashes.

Boeing delivered 87 jets between January and August.

(Adapted from DeccanHerald.com)



Categories: Economy & Finance, Regulations & Legal, Strategy, Sustainability, Uncategorized

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