AIRBUS EXPECTS TO BOOST JET DELIVERIES IN 2016
Airbus Group SE announced plans to lift output of the aging A330 jet and predicted higher annual deliveries, indicating its confidence weeks after U. S. rival Boeing Co. shocked investors by flagging a drop in output. The European plane maker said Wednesday it will restore A330 production to seven a month in 2017, suggesting it has come to terms with a demand dip that followed the announcement of a re-engined version due at the end of that year. Airbus aims to hand over more than 650 jets in 2016, up from 635 in 2015, with output of the latest A350 wide- body more than tripling to 50 jets. Boeing, by contrast, said Jan. 27 that deliveries could drop by 22 from last year’s record tally of 762, sending the stock to its steepest drop since October 2001. Airbus’s earnings before interest and tax rose 1.6 per cent to 4.13-billion euros (US$4.6 billion) in 2015 as A350 deliveries reached 14 in the program’s first full year and the company broke even for the first time on the A380 superjumbo. Both cash flow and EBIT are forecast to be “stable” this year.