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Airbus and Boeing Boost Production Amidst Record Backlogs

Financial Times Companies •
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Airbus and Boeing are intensifying efforts to increase aircraft production, aiming to fulfill record order backlogs that extend into the next decade. Executives at the Farnborough air show focused less on new orders and more on overcoming supply-chain challenges that have limited output.

Airbus CEO Guillaume Faury expressed optimism about meeting delivery targets, despite ongoing shortages of engines and cabin seats. The company plans to nearly double its adjusted annual operating profit to €12bn-€13bn by 2029, with a significant portion from its commercial aircraft division. Lars Wagner, head of commercial aircraft, emphasized "execution is priority number one" to deliver on the substantial backlog.

Airbus aims for approximately 870 deliveries this year and plans to ramp up production to over 1,000 aircraft annually by the end of the decade. They are also increasing output of their A320 family and wide-body A350 jets. Meanwhile, Boeing CEO Kelly Ortberg stated that market demand continues to outstrip supply, a situation expected to persist until the end of the decade, with their primary focus on fulfilling existing orders.