Airbus said Wednesday that its profit in the first three months of 2022 more than tripled to 1.22 billion euros ($1.28 billion), helped by an increase in aircraft deliveries as airlines recover from the worst of the pandemic.
Airbus said it plans to speed up production of its A320 family of planes that compete with Boeing 737s to 75 per month by 2025. To hit that rate, Toulouse, France-based Airbus will build a second final assembly line at its plant in Mobile, Alabama, CEO Guillaume Faury told reporters.
The ramp-up in A320 production builds on a current Airbus goal to build 65 A320s a month by the middle of 2023. The company hopes to take advantage of strong demand for short- and medium-range planes. Boeing is also trying to churn out more 737 Max jets but is producing only about 30 a month.
Richard Aboulafia, an analyst for the consultant AeroDynamic Advisory, said Airbus’ aggressive plans should worry the European company’s rival, Chicago-based Boeing Co.
“The market for single-aisle jets is extremely strong, and the A321neo is doing particularly well,” Aboulafia said. He said Airbus’ objective is to gain 70% of that market, leaving only 30% for Boeing, “and they just might get there.”