European aerospace giant Airbus has reported Q1 revenue of €12.8 billion (bn) in its first set of results for 2024 despite continuing supply chain issues.
During the quarter the manufacturer delivered 142 commercial aircraft to airlines around the globe, one of its best performances ever.
Orders were also up on the previous years Q1 with gross orders totalling 170 compared to 153 in 2023.
“We delivered first quarter 2024 results against the backdrop of an operating environment that shows no sign of improvement. Geopolitical and supply chain tensions continue. In that context, we delivered 142 commercial aircraft,” said Airbus CEO Guillaume Faury.
He continued: “We started 2024 with a solid order intake across our businesses. The strong momentum on widebody aircraft underpins our decision to increase the production rate for the A350 to 12 aircraft a month in 2028. Our ramp up plans are continuing, supported by the investments in our production system while relying on our core pillars of safety, quality, integrity, compliance and security.”
The return shows consolidated revenues continue to increase by around 9% year on year helped by its strong commercial product line covering all sectors of the airline industry.
Q1 deliveries included 12 A220s, 116 A320 Family, 7 A330s and 7 A350s.
With wings and engines for Airbus’ commercial aircraft made in the UK their continued growth can only be good news for the UK economy.