(AOF) – Airbus posted one of the strongest increases in the CAC 40 index, gaining 3.18% to 118.46 euros after having exceeded its forecasts for aircraft deliveries for the year 2023. Yesterday, during a briefing on its commercial activity, the aircraft manufacturer indicated having delivered 735 to 87 customers against 720 planned, an increase of 11% compared to 2022. The group declared having delivered 112 commercial aircraft to 51 customers last December. At the same time, 2,319 gross orders and 2,094 net orders were recorded in 2023.
In addition, its order book at the end of 2023 amounts to 8,598 devices.
Guillaume Faury, CEO of Airbus explains that “several factors have come together to help the company achieve its objectives, including the increased flexibility and capacity of their global industrial system, as well as strong demand from airlines to refresh their fleet with more modern and more fuel-efficient aircraft.”
For his part, Christian Scherer, CEO of Airbus Commercial Aircraft, said that the aeronautical group had never sold so many A320s or A350s in a given year. Of the 735 commercial aircraft delivered in 2023, Airbus has 571 A320 deliveries (compared to 516 in 2022) and 64 A350 deliveries (compared to 60 in 2022).
Following this point of commercial activity from Airbus, Berenberg remains Sell on Airbus with an unchanged price target of 100 euros. “While we are impressed with December production, we believe it is too early to judge that the supply chain issues have been resolved. As Airbus highlighted in the third quarter, it has become more complex “We see more downside risks than upside risks in the consensus delivery assumptions in the medium term”, explains the broker to justify its decision.
For its part, Bank of America reiterates its purchase recommendation on Airbus with an unchanged price target of 208 euros. The American bank took into account encouraging comments on the aeronautical group’s future commercial activity: “management indicated that the supply chain is strained but improving, that the group is on track to meet its ramp-up plans for fiscal 2024 and that it does not expect GTF-related issues to impact production in 2024.”
Bank of America expects 800 aircraft deliveries by Airbus over the whole of 2024.
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