Airbus Says It Achieved 800-Jetliner Delivery Target Last Year

(Bloomberg) -- Airbus SE said it achieved a 800-plane delivery target last year that it had come close to missing even after keeping production lines humming until the final hours of Dec. 31.

• The European planemaker reached the key production goal “subject to the finalization of the auditing process,” according to a statement Tuesday. Final figures will be published after the close Wednesday.

Key Insights

• Reaching the target represents a victory for incoming Chief Executive Officer Guillaume Faury, who spent the final months of the year pushing to maximize the number of jets handed over before turning his focus to the wider group.
• Airbus was forced to scale back it’s original goal for close to 820 aircraft deliveries in October after issues at engine-maker Rolls-Royce Holdings Plc held back output of its newest A330neo jet.
• The Toulouse, France-based company had to match the record 127 aircraft deliveries it made in December 2017 to hit the reduced target, after delays at its narrow-body engine manufacturers, most notably Pratt & Whitney, in the first half of the year.

Market Reaction

• Airbus shares traded 5.3 percent higher at 87.96 euros as of 5:04 p.m. in Paris. The stock is up 4.8 percent this year, after a gain of about 1 percent in 2018. U.S. rival Boeing Co. jumped more than 9 percent last year.

To contact the reporter on this story: Benjamin Katz in London at bkatz38@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Christopher Jasper, Kenneth Wong

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