European aircraft manufacturer Airbus reported on Oct. 30 that adjusted earnings before interest and tax rose 2% to €1.6 billion ($1.8 billion) in the third quarter, more than the €1.36 billion estimated by analysts.
Airbus' 2019 consolidated revenue increased to €46.2 billion, compared with nine-month 2018 revenue of €40.4 billion. The results were mainly driven by higher deliveries, a favorable mix of commercial, military and helicopter business, and improved foreign exchange rates, Airbus reports.
A total of 571 commercial aircraft were delivered in the 2019 period against 503 aircraft delivered in the same period in 2018.
Airbus pointed out, however, that there have been delays in delivery of A320NEO aircraft from the company's Hamburg, Germany, factories. Full-year guidance anticipates delivery of aircraft to reach 860 units rather than the previously planned 880 to 890 aircraft.
Airbus noted in its reporting that the imposition of punitive tariffs allowed by the World Trade Organization (WTO) on Airbus commercial aircraft entering U.S. commerce do not include components delivered from Europe to the manufacturer's Mobile, Alabama, assembly site. Airbus reiterated a call for a negotiated solution to the tariff issue while maintaining that the EU has lodged a parallel complaint outlining U.S. subsidies given to Boeing. That issue is expected to be resolved by the WTO in 2020.
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