Airbus raises cashflow target to meet strong dollar By Stocksak

© Stocksak. FILEPHOTO: Airbus’ logo is photographed at the Airbus facility, Montoir-de-Bretagne, near Saint-Nazaire (France), March 4, 2022. REUTERS/Stephane Mahe/File Photo

PARIS (Stocksak). Europe’s Airbus increased its 2022 free-cashflow forecast on the back a strong Dollar and reaffirmed delivery, production targets while delaying by a few month the planned introduction of its newest jet the A321XLR.

The U.S. currency partially boosted third-quarter revenues, while adjusted operating earnings rose 26% at 836 million euros ($834.50 millions), the world’s biggest planemaker stated on the 50th anniversary its maiden A300 flight.

Quarterly revenues rose 27%, to 13.309 billion euro.

For 2022, Airbus raised its target for free cashflow before M&A and customer financing by a billion euros to 4.5 billion. Other annual targets were maintained, including 700 jet delivery.

It delayed the A321XLR single-aisle long-range, long-range jet’s entry to service. This was due to questions about the certification of a fuel tank. It stated that all three test planes had flown.

According to a company-compiled consensus, analysts were on average anticipating quarterly adjusted operating earnings of 887 million Euros on revenues of 12.848 Billion.

($1= 1.0018 euros)

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