Airbus sees 820 jet deliveries in 2025, unveils new charges (updated)
20/02/2025 05:54
(Adds details from paragraphs 3 onward)
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Airbus reports earnings in line with market forecasts
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Delays A350 freighter by about a year to H2 2027
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Takes new Space charge of 300 million euros
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Highlights risks on A400M military aircraft amid weak
orders
By Gianluca Lo Nostro and Tim Hepher
Feb 20 (Reuters) - Airbus AIR.PA predicted a 7% rise
in commercial deliveries to around 820 jets in 2025 and
confirmed a delay to its A350 freighter model as it posted lower
core annual operating earnings broadly in line with expectations
on Thursday.
Europe's largest aerospace group also took a fresh charge of
300 million euros ($312.84 million) for its troubled Space
business, while flagging potential risks to the long-term
manufacturing future of its slow-selling A400M military
transport aircraft.
Airbus reported adjusted operating income of 5.35 billion
euros for 2024, including 2.56 billion in the fourth quarter as
it grappled with ongoing snags in its supply chains. Annual
revenues rose 6% to 69.23 billion euros, of which 24.72 billion
were generated in the three months to December 31.
Analysts had on average expected fourth-quarter core
operating profit of 2.6 billion euros on sales of 24.68 billion,
according to a company-compiled consensus survey.
Airbus has been facing industrial delays due partly to
problems in the aerospace supply chain, which have also hampered
the recovery of embattled U.S. rival Boeing BA.N .
The European planemaker said the production ramp-up of
its A320 and A350 families faced short-term pressure due mainly
to delays from U.S. supplier Spirit AeroSystems SPR.N , which
is in the process of being broken up between Airbus and its main
customer Boeing. Airbus maintained all its medium-term output
targets, however.
Airbus said it was delaying a new freighter version of its
A350 wide-body jet by around a year to the second half of 2027,
confirming a development delay previously reported by Reuters.
For 2025, Airbus forecast adjusted operating income of about
7 billion euros, excluding any impact from threatened trade
tariffs but including the integration of Spirit, in a sign that
a final deal to absorb some Airbus-related factories is close.
In Space, the latest charge brings to almost 2 billion
euros the amount provisioned in two years on loss-making
satellite projects, which industry sources have linked mainly to
the OneSat programme of reprogrammable satellites.
Such losses have spurred talks to create a new venture
grouping Airbus satellite activities with those of Thales Alenia
Space TCFP.PA LDOF.MI to counter the runaway growth of Elon
Musk's Starlink, though sources caution this may take some time.
Airbus also announced new charges of 121 million euros
for the A400M, which has been hit by chronic delays, partial
order cancellations by European launch nations and slow exports.
Airbus said it was assessing the potential impact of the
uncertainty over orders on future manufacturing levels.
Industry sources say Airbus has enough orders to keep A400M
assembly ticking over for about three years, but that time is
running out for the European army plane barring a surge of new
orders or reversals of budget cuts as Europe reviews defence
spending under pressure from U.S. President Donald Trump.
($1 = 0.9590 euros)
(Reporting by Gianluca Lo Nostro and Tim Hepher; Editing by
Jamie Freed)
((tim.hepher@thomsonreuters.com; +33 1 49 49 54 52; Reuters
Messaging: tim.hepher.thomsonreuters@reuters.net))