Airbus delivered 50 jets in May, Lufthansa redefines A350 orders – Global Banking & Finance Review
PARIS (Reuters) -Airbus delivered 50 planes in May, bringing its total so far this year to 220 planes, up 38% from the same period last year, the European aircraft manufacturer said on Monday.
Deliveries included the first A380 superjumbo to the Emirates of Dubai since December last year, leaving four more to be delivered before the world’s largest airliner ceases production and cabin fittings following lower sales than expected.
Airbus stock rose 0.5% on Tuesday.
Airbus has also confirmed an order for five wide-body A350s from Lufthansa, announced by the airline last month.
But Airbus data released on Monday showed the German airline also simultaneously canceled three previous A350 orders, resulting in a net addition of two A350 jets. An Airbus spokesperson confirmed the mix of cancellations and orders.
The reshuffle of orders was part of a fleet restructuring that also saw Lufthansa buy five other competing Boeing 787-9s left without buyers after they were manufactured.
Boeing grapples with production difficulties of 787s, while the two aircraft manufacturers face a drop in demand for long-haul wide-body aircraft exacerbated by the coronavirus pandemic.
In total, Airbus has won 94 orders so far this year, but it posted a negative total of 31 after adjusting for cancellations.
UBS analysts said Airbus deliveries are expected to show a significant recovery in June reflecting the end of the quarter and that the pace so far this year has supported the higher production plans announced by Airbus last month.
Some suppliers have expressed reservations about the plans.
Boeing was due to release May data later Tuesday. Between January and April, it delivered 94 aircraft and recorded 84 net orders after cancellations and other accounting adjustments.
(Reporting by Tim Hepher; Editing by Steve Orlofsky and Louise Heavens)