Airbus Sees Profit Boost, but Defense and Space Challenges

Airbus is urging stepped-up European cooperation to ensure the continent’s security and future access to space after a year that saw the company suffer fallout from Russia’s war in Ukraine and the crash of a European satellite launcher.

The France-based plane maker reported a record overall 2022 profit of 4.25 billion euros ($4.55 billion), up from 4.21 billion euros the year before, despite inflation challenges and supply chain disruptions that slowed efforts to ramp up aircraft production.

CEO Guillaume Faury said the company aims to deliver 720 planes this year, up from 661 last year, in an effort to keep up with growing demand by airlines as travel picks up worldwide following pandemic disruptions.

This week, Air India unveiled an massive order that included 250 Airbus passenger jets. Airbus didn’t disclose financial terms of the deal, which could be worth tens of billions of dollars.

Airbus took in 820 orders in 2022 and reported revenue of 58.8 billion euros ($63 billion). U.S. rival Boeing has lagged behind Airbus in deliveries but has been closing the gap, reporting 774 orders and 480 deliveries last year.