Airbus Q12024 revenue up 9% on higher deliveries

Airbus reported a nine percent increase in consolidated revenues at €12.8 billion for the first quarter of 2024 on higher deliveries. A total of 142 commercial aircraft were delivered compared to 127 aircraft in Q1 2023, an increase of 12 percent, says an official release. The deliveries included 12 A220s, 116 A320 Family, seven A330s and seven A350s. Revenues generated by Airbus’ commercial aircraft activities increased 13 percent to €9.2 billion. Consolidated adjusted EBIT declined 25 percent to €577 million (Q12023: €773 million) “due to the increased Airbus Employee Share Ownership Plan, which saw record participation among employees and resulted in a year-on-year expense increase of slightly above €0.1 billion.” Net income was up 28 percent to €595 million. Gross commercial aircraft orders totalled 170 (Q12023: 156 aircraft) with the same number of net orders due to no cancellations (Q12023 net orders: 142 aircraft). The order backlog amounted to 8,626 commercial aircraft at the end of March 2024, the release added.