On the celebration of five decades of flight, Airbus received a billion-euro boost in projected cashflow from a strong dollar and said it was exploring higher production to meet resurgent demand for wide-body jets.
Third-quarter revenue also benefitted from the U.S currency but operating earnings that include hedging rose by a slimmer-than-expected 26% to 836 million euros as the company battles a “degraded” global supply chain.
After generating almost twice the amount expected cash in the third quarter, Airbus raised its forecast for free cashflow in 2022 from 3.5 billion to 4.5 billion euros.
Chief Executive Guillaume Faury paid tribute to the “pioneering spirit” of designers and builders who brought the world’s first twin-engined wide-body jet, the A300, to a first flight on October 28, 1972.
After a shaky start the then European consortium broke open a U.S dominated market, but its commercial success stems mainly from smaller single-aisle jets while its attempt to build the world’s largest airliner, the A380, was hampered by weak sales.