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Airbus announced a 12 percent increase in net profits to €4.2 billion ($4.4 billion) for 2024, citing increased aircraft deliveries as a key driver. The European aircraft maker aims to further boost deliveries in the coming year, having successfully absorbed a major writedown related to its space business.
The results demonstrate the growing dominance of Airbus over its rival Boeing, which posted a massive $11.8 billion loss for 2024, hobbled by a lengthy labour strike, major safety issues on commercial planes and defence contract cost overruns.
Airbus shares fell 1.8 percent in morning trading in Paris.
Airbus's commercial aircraft deliveries rose by 4.2 percent to 766, helping revenues climb by six percent to 69.2 billion euros. Deliveries are an important indicator as airlines pay for aircraft when they receive them.
Boeing was only able to deliver 348 aircraft in 2024 as strikes and safety reviews hit production. Airbus and its suppliers have struggled to scale production back up after cutting staff and output during the Covid-19 pandemic that nearly shut down international air travel. They both have huge order backlogs as airlines have placed orders for the latest fuel-saving aircraft that offer lower operating costs.
Net orders tumbled from a bumper year in 2023, falling from 2,094 to 826, but the company noted they still surpassed deliveries.
"We achieved strong order intake across all businesses in 2024, with a book-to-bill well above 1, confirming the solid demand for our products and services," chief executive Guillaume Faury said in a statement.
"We delivered on our 2024 guidance in what was a testing year for Airbus," he added, noting the transformation of its space business.
Airbus said it is targeting a seven percent increase in deliveries for 2025 to 820 aircraft. But it said that is based upon "no additional disruptions to global trade or the world economy, air traffic, the supply chain, the Company’s internal operations, and its ability to deliver products and services."
Boeing's troubles mean Airbus is set to expand its market share.
