Airbus aims for record deliveries despite disappointing quarter

European aircraft manufacturer Airbus said Wednesday its third quarter revenues dipped as it finished fewer planes, but insisted it would still deliver a record number this year.

The company delivered 196 aircraft in the three months to the end of September, compared to 201 during the same period the previous year.

Revenues slid 2% to €17.5 billion, but net profit jumped 20% to €1.3 billion, Airbus said in a statement.

Airbus kept to its target of delivering a record 870 commercial aircraft this year, beating the 863 it handed over to airlines in 2019 before the Covid pandemic upended the industry.

“Against a complex geopolitical and operating environment, we are focused on delivery while maintaining a steadfast focus on quality,” chief executive Guillaume Faury said in a statement.

“Our plan is clear, and our teams are onboard to meet our objectives,” he added.

Aircraft deliveries are important for Airbus and its main competitor Boeing as they get paid the majority of the agreed price when planes are hand over.

Airbus needs to deliver 323 aircraft in this quarter to meet its annual target, but it usually delivers a large number of planes at the end of the year.

The head of the company’s commercial aircraft unit, Lars Wagner, said earlier this month he was confident Airbus can meet its annual target as most of the aircraft are in the final stages of assembly.