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☆ Airbus targets 720 deliveries in 2023
▼ + stars: | 2023-02-16 | by ( Tim Hepher | ) www.reuters.com time to read: +3 min

Industry sources have said Airbus is currently producing 45 of the workhorse jets a month. Revenues rose 13% to 58.763 billion euros, buoyed by higher deliveries compared to the previous year and a strong dollar. Industry sources had previously said A350 output was scheduled to remain steady at 6 a month throughout 2024 and 2025, up from 5.6 a month in 2023. Airbus' net cash rose to 9.4 billion euros, closing in on a threshold previously identified for potential share buybacks. Faury told investors in September he would discuss buybacks with the board "as soon as we hit the 10 billion euros mark."

After the retirement of Boeing Capital Corp (BCC) President Tim Myers this spring, Boeing said it would "realign" the financing arm within the commercial airplane unit while maintaining "strong coordination" with Boeing's treasury arm. Boeing Capital, a subsidiary of Boeing, provides asset-based financing and leasing to airlines. The closing of Boeing Capital continues a trend for Boeing to consolidate its operational structure and ends a significant chapter in the fast-expanding air finance industry. A Boeing spokesperson said the shift will provide airlines "with more consistent support" for arranging aircraft financing. Rob Martin, finance chief for the commercial airline business, and Boeing Treasurer David Whitehouse will be responsible for the transition, West said in the memo.

For airlines, sale-and-leasebacks have been a popular way to generate liquidity and ease balance sheets. They then aim to sell them at a profit to lessors at the expense of agreeing to pay a rent. "It's a cheap and often tax-efficient way for the airline to raise finance," said an aircraft finance source. "Lessors are already queuing up to do business with Air India. Some lessors say it is not worth it after new money poured into aviation looking for returns when interest rates were low.

Tata Group, which regained control of Air India last year after decades of public ownership, put out just six paragraphs. "Air India negotiated hard and the team is very sharp despite having no prior aviation experience. A second person who watched the billions fall into place said the Air India negotiators were "methodical, tough and very sophisticated". Plans for announcements on the anniversary of Tata's Air India takeover slipped as engine talks wore on. Analysts caution many obstacles remain to Air India's plans.

[1/4] Air India passenger aircraft are seen on the tarmac at Chhatrapati Shivaji International airport in Mumbai, India, February 14, 2023. REUTERS/Francis MascarenhasBENGALURU, Feb 14 (Reuters) - Air India has agreed to buy 250 jets from Airbus (AIR.PA), part of a mammoth deal for 470 planes, as the carrier heralds a decades-long transformation under its new owners, Tata Group. The deal is expected to also include an order for 220 planes from Airbus rival Boeing (BA.N), Reuters reported. "We see this moment as the most significant moment for the Tata Group's Air India, Indian aviation and the manufacturing sector in India," he said. Reuters in December reported that Air India was in negotiations for a deal close to 500 planes.

☆ Airbus says Air India to lease jets on top of record order
▼ + stars: | 2023-02-14 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

PARIS, Feb 14 (Reuters) - Airbus (AIR.PA) will start delivering narrow-body A320neo-family jets to Air India at the end of this year as part of a 250-plane order, the aircraft manufacturer's chief commercial officer said. The carrier's huge aircraft acquisition will further expand as Air India additionally leases around 25 A320neo-family jets on the open market, he said in an interview. Reuters reported last month Air India was poised to acquire a total of 495 planes. The Airbus part of the direct order includes 34 A350-1000 aircraft and six smaller A350-900s originally destined for Russia's sanctions-hit Aeroflot. Asked whether the deal supported Airbus plans for higher A350 production, Scherer said: "It is poised to grow for sure".

☆ Exclusive: Airbus roiled by poor start to 2023 as industrial pressure grows
▼ + stars: | 2023-02-13 | by ( Tim Hepher | ) www.reuters.com time to read: +6 min

The first major test will be the first quarter for which suppliers say Airbus seeks close to 140 deliveries. Analysts say Faury will want to avoid spooking investors while insuring against the risk of more downgrades to guidance on deliveries from setting expectations too high. On the other hand, sources say steel capacity has moved up the list of concerns amid pressures including debt restructuring at supplier Liberty Steel, which had no immediate comment. INTERNAL TASK FORCEYet despite hot spots, sources say several key yardsticks of supplier performance like missing-parts-per-million are steadily improving. Faury has insisted bringing the supply chain back to health and modernising Airbus' industrial fabric are top priorities.

[1/4] An Indian Air Force (IAF) light combat aircraft "Tejas" flies during the "Aero India 2021" air show at Yelahanka air base in Bengaluru, India, February 3, 2021. Indian carriers may buy 1,500 to 1,700 aircraft in coming years, CAPA said, including Air India and IndiGo. MILITARY, COMMERCIAL COMPETITION"The days of foreign companies selling directly to India are over," a defence industry source told Reuters. At the same time, airlines like Air India are seeking to go head-on with rivals like Emirates Airline (EMIRA.UL) for a bigger share of international passenger flow. India's pressing military air need is to shore up its fighter squadrons, which have fallen to 31 from the approved 42 as political and bureaucratic hurdles and lack of funds delay purchases.

BENGALURU/PARIS, Feb 10 (Reuters) - French planemaker Airbus (AIR.PA) on Friday signed an agreement with Air India for 250 jets, as part of the Indian carrier's jumbo deal under its new owners, Tata Group, industry sources told Reuters. This is part of a potentially record order for close to 500 jets split equally between Airbus and rival planemaker Boeing (BA.N), which was first reported by Reuters in December. Air India did not immediately respond to an email seeking comment outside of regular business hours. While the Airbus figure is slightly lower than the 275 originally envisaged, sources did not rule out a provision by Air India for top-up acquisitions or leases at a later point. Air India also wants to win a bigger share of regional international traffic and the domestic market, setting up a battle on both fronts with IndiGo.

☆ Airbus may appoint interim CFO as Asam prepares to step down
▼ + stars: | 2023-02-09 | by ( Tim Hepher | ) www.reuters.com time to read: +1 min

Barring a rapid breakthrough, the world's largest planemaker may appoint an interim CFO after Asam steps down at the end of the month as previously announced, having presented his last Airbus results on Feb 16, they said. Airbus declined to comment on management appointments. Asam announced his surprise decision to leave the aerospace group last August, when he pledged to "work with the management to ensure a smooth transition with the next Airbus CFO". However, Airbus has so far not publicly identified a new CFO, prompting some analysts to express concern over the lack of certainty regarding the transition. Although Airbus moved on from years of in-fighting and open national rivalries for its top jobs, the passport of the new finance chief will overshadow the search, the sources said.

☆ Airbus urges suppliers to carry extra stocks amid output snags
▼ + stars: | 2023-02-09 | by ( Valerie Insinna | ) www.reuters.com time to read: +3 min

Airbus currently has an ultimate goal of producing 75 of its best-selling family of A320neo single-aisle jets a month by the middle of the decade. Charbonneau also suggested that suppliers would bear the burden of carrying extra inventory to smooth any disruption, saying it was "very important" that suppliers create "buffer stocks" of critical items. "Ultimately, working capital in sub-tier suppliers could actually determine how many airplanes are going to get built," he said. Industry sources have said earlier plans for a sharp increase in output rattled suppliers worried about being left with surplus inventory and reluctant to carry surplus stock. The United States is Airbus' single largest supplier, with more than 2,000 U.S. companies located in about 40 states.

☆ Airbus may appoint interim CFO after succession delay, sources say
▼ + stars: | 2023-02-09 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

Barring a rapid breakthrough, the world's largest planemaker may appoint an interim CFO after Asam steps down at the end of the month as previously announced, after presenting his last Airbus results on Feb. 16, they said. Asam announced his surprise decision to leave the aerospace group last August, when he pledged to "work with the management to ensure a smooth transition with the next Airbus CFO". However, Airbus has so far not publicly identified a new CFO, prompting some analysts to express concern over the lack of certainty. Although Airbus has moved on from years of in-fighting and open national rivalries for its top jobs, the passport of the new finance chief is unlikely to be ignored, the sources said. Asam joined Airbus in 2019 after having worked at German chip maker Infineon as finance chief since 2011.

☆ Spirit Aero experiencing disruptions in supplying parts for 787, A350 programs
▼ + stars: | 2023-02-07 | by ( Abhijith Ganapavaram | ) www.reuters.com time to read: +3 min

Feb 7 (Reuters) - Spirit AeroSystems Holdings Inc (SPR.N) said on Tuesday it was experiencing disruptions in supplying parts for the industry's top-selling wide-body jets, the Boeing 787 and Airbus A350, due in part to labor shortages. Spirit said it found the new process for the 787 required more labor per unit. On Airbus' A350 program, Spirit said disruptions continue to drive cost pressures. Spirit has targeted producing shipsets between 40 and 45 this year for the 787 program and about 60 units for the A350. Spirit reported a quarterly cash burn of $66 million, compared with analysts' estimates of $42.64 million, according to Refinitiv data.

☆ Airbus deliveries fell to 20 jets in January
▼ + stars: | 2023-02-07 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

PARIS, Feb 7 (Reuters) - Airbus (AIR.PA) deliveries fell to 20 airplanes in January compared to 30 in the same month last year, the company said on Tuesday, confirming an earlier Reuters report. Detailed Airbus data showed that the cancellation came from Viva Air Colombia, a subsidiary of Irelandia Aviation. Airbus eventually lowered then abandoned that goal in 2022 as supply chain and industrial pressures began to bite harder than expected. It made 663 industrial deliveries for the year or 661 after a Russia sanctions-related adjustment. Industry sources have said the shallower "hockey stick" recovery would allow Airbus' COVID-hobbled supply chain to reset and prepare a more reliable catch-up from mid-decade.

However, Boiardi said an earlier proposal from the industry for totally single-pilot flying by 2030 was "absolutely not realistic", because automation had not advanced far enough and solo flying required a level of safety equivalent to existing operations. Solo flying, even in cruise, needs approval from the United Nations' International Civil Aviation Organization, individual airlines and their pilot unions. Even limited solo flying, however, is dividing airlines and raising public fears, while sparking a growing backlash among pilot groups like the European Cockpit Association. Airbus said in a statement it was studying the concept of a single pilot in the cruise phase but not wholly single-pilot flights. Consumer resistance, however, could result in single-pilot flying starting with cargo flights, industry officials said.

PARIS, Feb 7 (Reuters) - Airbus (AIR.PA) deliveries fell by a third to 20 airplanes in January compared to 30 in the same month last year, the company said on Tuesday, confirming an earlier Reuters report. Detailed Airbus data showed that the cancellation came from Viva Air Colombia, a subsidiary of Irelandia Aviation. Airbus eventually lowered then abandoned that goal in 2022 as supply chain and industrial pressures began to bite harder than expected. It made 663 industrial deliveries for the year or 661 after a Russia sanctions-related adjustment. Industry sources have said the shallower "hockey stick" recovery would allow Airbus' COVID-hobbled supply chain to reset and prepare a more reliable catch-up from mid-decade.

☆ Airbus and Qatar Airways settle bitter A350 jet row
▼ + stars: | 2023-02-02 | by ( Tim Hepher | ) www.reuters.com time to read: +4 min

The "amicable and mutually agreeable settlement" ends a $2 billion row over surface damage on the long-haul jets. The spat led to the withdrawal of billions of dollars' worth of jet deals by Airbus and prompted Qatar to increase purchases from Boeing. The deal heads off what amounted to an unprecedented public divorce trial between heavyweights in the normally tight-knit and secretive $150 billion jet industry. Airbus' decision to revoke that order, separate from the disputed A350 contract, had been criticised by global airlines group IATA. Airbus said it had done its best to avoid pushing Qatar too far back in the queue.

☆ Boeing delivers last 747, saying goodbye to 'Queen of the Skies'
▼ + stars: | 2023-02-01 | by ( Valerie Insinna | ) www.reuters.com time to read: +4 min

"It's the airplane that redefined the industry and redefined air travel," said Guy Norris, co-author of "Boeing 747: Design and Development Since 1969." British billionaire entrepreneur Richard Branson, who was inspired to start an airline with a single Boeing 747 after getting stuck on a delayed flight, earlier on Tuesday called it a "wonderful beast" as he bid farewell. When Boeing confirmed in July 2020 that it would end 747 production, it was already only producing at a rate of half an aircraft a month. Smith said all 747 program workers were transferred to other jobs or voluntarily retired. Boeing will remain tied to the 747 through the aftermarket business and the Air Force One replacement program, which Boeing won in 2018.

☆ 'Farewell to a wonderful beast': Branson's homage to Boeing 747
▼ + stars: | 2023-02-01 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

[1/4] A rocket containing a payload of small satellites sits under the wing of "Cosmic Girl", a converted Boeing 747, at Cornwall Spaceport in Newquay, Britain, January 3, 2023 ahead of the first orbital launch from western Europe being planned by Virgin Orbit. REUTERS/Tim HepherPARIS, Jan 31 (Reuters) - British billionaire entrepreneur Richard Branson, who was inspired to start an airline with a single Boeing 747 after getting stuck on a delayed flight, paid tribute to the Queen of the Skies on Tuesday as Boeing delivered its final jumbo jet. "It gave America and Boeing the leadership role in aviation," said Branson, the son of a flight attendant who founded Virgin Atlantic in 1984 after cold-calling Boeing as a successful record publisher to ask about a second-hand 747. Branson's latest aerospace venture, Virgin Orbit, aims to launch satellites from a rocket released from under the wing of a 747 dubbed Cosmic Girl, formerly part of the same airline. "So farewell to a wonderful beast."

☆ Airbus and Qatar Airways settle A350 dispute
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: 1 min

PARIS, Feb 1 (Reuters) - Airbus (AIR.PA) and Qatar Airways have settled a dispute over the degraded surface of grounded A350 jets, Airbus said on Wednesday, averting a potentially damaging UK court trial. The "amicable settlement" ends a bitter dispute over the safety of corrosion left exposed by cracked paint, which had led Airbus to revoke dozens of jet orders from the Gulf airline. Airbus said the deal was not an admission of liability by either party, both of whom would move forward as partners. Reuters reported earlier that a deal could be reached on Wednesday. Reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus and Qatar may settle A350 row as early as today -sources
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 1 (Reuters) - Hopes are rising of a deal between Airbus (AIR.PA) and Qatar Airways as early as Wednesday to avert an unprecedented trial over the safety of the A350 jetliner and billions of dollars of cancelled orders, two people familiar with the matter said. France-based Airbus and Qatar Airways declined to comment. Qatar has challenged the world's largest planemaker over safety and taken it to court after cracks in the painted surface exposed gaps in a sub-layer of A350 lightning protection. Airbus has acknowledged quality flaws but insists the jets are safe and retaliated by revoking dozens of plane orders from Qatar. Reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Airbus and Qatar settle A350 jetliner row
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 1 (Reuters) - Airbus (AIR.PA) and Qatar Airways have settled a dispute over surface damage on grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial. The "amicable settlement" ends a $2 billion row over the safety of Europe's premier long-haul jet - an unprecedented public rift that had led Airbus to revoke dozens of other jet orders from Qatar ahead of a scheduled June court trial. The announcement comes after Reuters reported that a deal could be reached as early as Wednesday. Airbus has acknowledged quality flaws but insisted that the jets are safe. Reporting by Tim Hepher Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

SEATTLE/WASHINGTON, Jan 30 (Reuters) - Boeing Co (BA.N) told employees on Monday that it will add a new 737 MAX production line in Everett, Washington, in mid-2024 as it plans to ramp up deliveries of its best-selling plane. The company is reactivating its third 737 MAX line in Renton, Washington, Deal added. Boeing booked nearly 700 MAX orders last year, delivered 387 737s and has a total backlog of about 3,600 MAX airplanes. Boeing said this month it had stabilized 737 production at 31 per month, with plans to ramp production up to approximately 50 per month in the 2025-2026 timeframe. The legislation requires Boeing to fit new safety enhancements to the MAX 7 and MAX 10 and retrofit existing MAX 8 and MAX 9 planes in the fleet.

Boeing has 138 737 MAX airplanes in inventory for Chinese carriers but has been unable to deliver them amid U.S. China geopolitical tensions. Calhoun said last week China will "need the MAX" to meet demand. So then we try to move down that path and then hopefully, hopefully we get a robust pipeline in China as well." In September, Calhoun said Boeing would begin to remarket some 737 MAX jets earmarked for Chinese customers. Calhoun said last week that effort to remarket planes was on pause "until we understand completely where China wants to go."

☆ Airbus and Qatar edge towards agreement in A350 dispute - sources
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view shows the Qatar Airways' airbus A350 parked outside Qatar Airways maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad CreidiPARIS, Jan 31 (Reuters) - Airbus (AIR.PA) and Qatar Airways are edging towards an agreement to settle a bitter dispute over grounded A350 jets, two people familiar with the matter said on Tuesday. "There will be an agreement," one of the sources said, while another cautioned that the talks were still ongoing. Airbus and Qatar Airways had no immediate comment. The dispute between two of aviation's largest players has led to the unprecedented cancellation of large-scale orders from Airbus, and extra business for its U.S. rival Boeing (BA.N).

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