AIR­BUS EX­PECTS TO BOOST JET DE­LIV­ER­IES IN 2016

National Post (Latest Edition) - - FINANCIAL POST -

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.

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