Airbus Q1 profit, sales slip on slow deliveries

Airbus vowed to turn around its slow pace of aircraft deliveries in the second half after lackluster output weighed on profit and sales in Q1. The world’s biggest commercial aircraft manufacturer said the final four months of 2023 would be stronger, as Airbus follows its typical pattern of churning out a much higher number of jets in the final stretch. Speaking on a call with journalists after reporting earnings, CEO Guillaume Faury reiterated his goal to hand over 720 units this year, while cautioning that the pace of deliveries would be “significantly” lower in the first half than the second. Airbus has warned of persistent issues with its supply chain that create “challenges to roll the ball forward at the speed we want,” according to Faury. Besides a lack of skilled labor and parts, the company has also been forced to grapple with glitches on some of its most advanced aircraft engines, including the Pratt & Whitney units that power the A320 and smaller A220 single-aisle jets. Faury said Airbus is “very closely monitoring” the issues on Pratt’s Geared Turbo Fan unit. Lufthansa said Wednesday that a third of its A220 fleet in Zurich is grounded because of engine issues. That’s adding to a growing chorus of carriers complaining of bigger-than-usual outages on their fleets just as the airline industry gears up for a bumper summer. <br/>