Airbus targets 530 jet handovers for year in late push

Airbus is on track to deliver about 530 aircraft this year, according to a person familiar with the matter, after a second-half push to clear jet backlogs eased some of the impact from the coronavirus pandemic. The European planemaker made progress toward meeting the internal target when it reported 64 deliveries for November on Monday. Handovers stand at 477 for 2020 with one month still to be reported, according to an Airbus statement. The full-year goal represents a drop of almost 40% from 2019’s record pace, though one that could have been worse without a sustained push to increase handovers in recent months. Airbus abandoned its annual forecast for 880 deliveries in March, as the coronavirus began to have a major impact on travel and airline revenue. Handing over more than 500 aircraft this year would be a “good sign,” said Bloomberg Intelligence analyst George Ferguson. “The more they deliver, the less cash burn.” There remains a significant amount of uncertainty in deliveries, Stefan Schaffrath, an Airbus spokesman, said before the November delivery figure was released. He declined to comment on specific numbers or targets.<br/>