Airbus cuts delivery goal on Hamburg plant snags

Airbus cut its full-year delivery goal for commercial jets on Wednesday, as the planemaker struggles with production delays at a recently expanded German plant. The group expects to deliver “around 860” airliners in 2019 instead of the 880-890 previously targeted, the company said as it posted E1.6b in adjusted operating income for Q3. The adjusted operating profit figure rose 2% year-on-year as quarterly revenue fell 1% to E15.3b and net income rose 3% to 989m. The group also trimmed its 2019 free cash flow goal to reflect the revised delivery outlook. The revised delivery numbers and outlook “reflect the underlying actions to secure a more efficient delivery flow in the next years”, Chief Executive Guillaume Faury said. Airbus has been wrestling with delays at its Hamburg plant for close to two years as it increases output of the A321 ACF, a version of the jet whose modified fuselage allows for more flexible cabin layouts and extra fuel tanks for longer range. Aircraft demand remains solid in a challenging environment, Faury said - calling once again for a negotiated settlement to a transatlantic trade dispute that has hit European-built planes with 10% US tariffs, with Brussels poised to reciprocate.<br/>