EUROPEAN aircraft manufacturer Airbus posted on Thursday a 28 per cent increase in first-quarter net income, thanks to rising deliveries and growing production.

Net profit in the quarter rose to 595 million euros (S$865.7 million) while revenue grew nine per cent to 12.8 billion euros, as the group delivered 142 commercial planes compared with 127 over the same period last year.

The results were delivered “against the backdrop of an operating environment that shows no sign of improvement,” chief executive Guillaume Faury said in a statement. “Geopolitical and supply chain tensions continue.”

Airbus expects to deliver 800 passenger planes this year, up from 735 last year, but still below the 863 it delivered in 2019 before the Covid pandemic.

The company has an order backlog of 8,626 planes, of which 7,177 are from the narrow-body A320 family.

It said it aims to produce 75 A320s a year by 2026 and is “making progress” after delivering 48 a month on average last year.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Airbus also said it is increasing the production rate for its A350 widebody to 12 planes a month in 2028, up from a previous target of 10 by 2026. AFP