Airbus plans to deliver 800 commercial planes to its airline customers this year, as the world's biggest plane maker steps up production of its top-selling A320 family of narrow-body aircraft, while its US rival Boeing is grappling with its latest crisis after a near-disaster incident last month.
That delivery target is nearly 9 per cent higher than the 735 commercial planes Airbus handed over last year, the company said on Thursday as it reported fourth-quarter and full-year financial earnings.
Airbus's 2024 guidance assumes no further disruption to the global economy, air traffic, the supply chain, the company’s internal operations and its ability to deliver products, it said.
"The guidance reflects our expected growth trajectory and the investments we're making to prepare for the future," Airbus chief executive Guillaume Faury said.
"We are working closely with our global supply chain partners as we ramp up across all programmes at the same time, with safety and quality at the heart of all we do."
Mr Faury confirmed the planned manufacturing increase of A320 Neos to a rate of 75 a month by 2026 was "on track".
Airbus's target of 800 handovers this year would mean the plane maker continuing to pull ahead of its main competitor Boeing.
The US Federal Aviation Administration has barred Boeing from increasing the existing 737 Max production rate, pending improvements in quality control, after a door panel blew off an Alaska Airlines' 737 Max 9 jet mid-flight last month.
This caps Boeing's delivery plans for the narrow-body model and puts it at a disadvantage to Airbus, who continues to overtake Boeing in the single-aisle jet market. The Airbus A320 Neo competes directly with the 737 Max.
Mr Faury this week said the Boeing incident "made us very humble" and was a lesson for the entire industry to reflect on safety, even as there are fewer accidents in global commercial aviation.
Toulouse, France-based Airbus is facing its own set of challenges from supply chain bottlenecks to a problem with engines built by Pratt & Whitney that has led to hundreds of A320 Neo jets being grounded for inspection.
Safety culture
Asked how Airbus plans to increase the production rate of its A320 family jets without compromising quality, Mr Faury said: "It cannot be quantity over quality. We don’t [just] want to deliver a number of planes, we want to deliver a number of planes that are of high quality and safe. That's something we make very clear to our teams."
The only way to do this is "to constantly believe you're not doing it, to constantly challenge yourself, to be afraid of what could go wrong".
Mr Faury added: "We cannot deliver quantity at the detriment of quality, because what we deliver first is quality and safety.
"The product we deliver is a safe transportation mode. If we fail on this, we have to go back to the drawing board because that is the very basics of what we do."
Supply chain woes
The global aviation industry continues to grapple with supply chain problems, from a shortage of parts to fewer skilled workers, since the Covid-19 pandemic hamstrung the industry's operations.
Airbus is trying to strike a "good balance" between supply constraints and the strong air travel demand in order to increase production and meet its jet delivery goals, Mr Faury said.
"We have this permanent tension between what the supply chain is able to deliver and what we need, so we are pacing the ramp-up and looking at all these bottlenecks ... and that's a permanent balance between demand and supply that we're trying to strike," he said.
"Overall, it remains a very critical area of attention for us."
Airbus hired 13,000 people last year and plans to add "roughly half" that number this year, Mr Faury said.
Special dividend
Airbus on Thursday said it will pay a special dividend of €1 per share, besides a €1.8 regular dividend, as its net cash reached €10.7 billion ($11.5 billion).
The company posted a 13 per cent decline in fourth-quarter profit, despite revenue increase.
Its net profit in the three months to the end of December dropped to €1.45 billion from €1.67 billion in the fourth quarter of 2022, the company said. Quarterly revenue rose 11 per cent year-on-year to €22.8 billion.
Full-year net profit fell 11 per cent year-on-year to €3.8 billion last year, weighed down by charges related to its space business.
Uefa Champions League play-off
First leg: Wednesday, 11pm (UAE)
Ajax v Dynamo Kiev
Second leg: Tuesday, August 28, 11pm (UAE)
Dynamo Kiev v Ajax
Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press
UAE currency: the story behind the money in your pockets
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Charlotte Gainsbourg
Rest
(Because Music)
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Quick facts on cancer
- Cancer is the second-leading cause of death worldwide, after cardiovascular diseases
- About one in five men and one in six women will develop cancer in their lifetime
- By 2040, global cancer cases are on track to reach 30 million
- 70 per cent of cancer deaths occur in low and middle-income countries
- This rate is expected to increase to 75 per cent by 2030
- At least one third of common cancers are preventable
- Genetic mutations play a role in 5 per cent to 10 per cent of cancers
- Up to 3.7 million lives could be saved annually by implementing the right health
strategies
- The total annual economic cost of cancer is $1.16 trillion
Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
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Mobile phone packages comparison
UAE currency: the story behind the money in your pockets
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
No Shame
Lily Allen
(Parlophone)
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Mia Man’s tips for fermentation
- Start with a simple recipe such as yogurt or sauerkraut
- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.
- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.
- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.
THE BIO
Occupation: Specialised chief medical laboratory technologist
Age: 78
Favourite destination: Always Al Ain “Dar Al Zain”
Hobbies: his work - “ the thing which I am most passionate for and which occupied all my time in the morning and evening from 1963 to 2019”
Other hobbies: football
Favorite football club: Al Ain Sports Club
Turning%20waste%20into%20fuel
%3Cp%3EAverage%20amount%20of%20biofuel%20produced%20at%20DIC%20factory%20every%20month%3A%20%3Cstrong%3EApproximately%20106%2C000%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EAmount%20of%20biofuel%20produced%20from%201%20litre%20of%20used%20cooking%20oil%3A%20%3Cstrong%3E920ml%20(92%25)%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3ETime%20required%20for%20one%20full%20cycle%20of%20production%20from%20used%20cooking%20oil%20to%20biofuel%3A%20%3Cstrong%3EOne%20day%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3EEnergy%20requirements%20for%20one%20cycle%20of%20production%20from%201%2C000%20litres%20of%20used%20cooking%20oil%3A%3Cbr%3E%3Cstrong%3E%E2%96%AA%20Electricity%20-%201.1904%20units%3Cbr%3E%E2%96%AA%20Water-%2031%20litres%3Cbr%3E%E2%96%AA%20Diesel%20%E2%80%93%2026.275%20litres%3C%2Fstrong%3E%3C%2Fp%3E%0A
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
UAE currency: the story behind the money in your pockets
Usain Bolt's time for the 100m at major championships
2008 Beijing Olympics 9.69 seconds
2009 Berlin World Championships 9.58
2011 Daegu World Championships Disqualified
2012 London Olympics 9.63
2013 Moscow World Championships 9.77
2015 Beijing World Championships 9.79
2016 Rio Olympics 9.81
2017 London World Championships 9.95
EA Sports FC 24
More from Rashmee Roshan Lall
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Results
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Profile of Foodics
Founders: Ahmad AlZaini and Mosab AlOthmani
Based: Riyadh
Sector: Software
Employees: 150
Amount raised: $8m through seed and Series A - Series B raise ongoing
Funders: Raed Advanced Investment Co, Al-Riyadh Al Walid Investment Co, 500 Falcons, SWM Investment, AlShoaibah SPV, Faith Capital, Technology Investments Co, Savour Holding, Future Resources, Derayah Custody Co.
