Airbus lines up new commercial jet CEO, Faury reaffirms aircraft delivery target

Airbus has reaffirmed its plan to deliver 770 aircraft this year despite ongoing supply chain challenges, according to its latest financial update.  

Airbus confirmed on October 30, 2024, that 497 commercial aircraft have been delivered during the first nine months of the year comprising 45 A220s, 396 A320 family aircraft, 20 A330s and 36 A350s. 

At the same stage in 2023, Airbus delivered 488 aircraft and by the end of the year the planemaker completed 735 deliveries. 

In June 2024, a target of 800 deliveries was revised by Airbus CEO Guillaume Faury to 770 aircraft.  

Challenges with the Airbus supply chain meant that initial targets to deliver 75 A320 family jets and 10 A350s each month in 2026 slipped to 2027 and 2028, respectively. 

“We saw strong demand across our product range in the first nine months of the year. The nine-month earnings reflect the level of commercial aircraft deliveries, a solid performance in helicopters and the charges in our space business recorded in the first half,” said Faury.  

The Airbus CEO added: “We are constantly adapting to a complex and fast-changing operating environment marked by geopolitical uncertainties and specific supply chain challenges that have materialised in the course of 2024.”  

Airbus also posted its revenues and earnings for the third quarter, which exceeded many analysts’ expectations before the results were announced. 

For the third quarter of 2024, Airbus posted revenues of €15.69 billion ($17.05 billion), up 5% from 2023, and adjusted earnings (before interest and taxes) rose 39% to €1.41 billion ($1.5 billion). 

Net income also rose 22% for the third quarter from €806 million ($876) million in 2023 to €983 million ($1.06 billion) in 2024.  

“We remain focused on our priorities, including ramping up commercial aircraft deliveries and transforming our Defence and Space division,” Faury added.   

New Commercial Aircraft CEO  

Lars Wagner, currently the CEO of MTU Aero Engines AG, has been selected to join the Airbus Executive Committee and succeed Christian Scherer as CEO of the Commercial Aircraft business. 

Wagner informed MTU of his decision not to extend his contract, which is set to conclude on December 31, 2025.   

“Christian and I are excited to have Lars Wagner, such a talented industry leader, coming back to the Airbus family in this key role,” said Faury. “Christian remains at the helm of the Commercial Aircraft business, supported by a great team, until the transition to Lars. Christian and I will continue to work closely together for the success of Airbus in the dynamic and complex environment we are operating in.” 

The Airbus board will also propose to shareholders at the 2025 Annual General Meeting that Faury remain as the company’s CEO.  

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