A rebound in air travel in China and the US helped to drive a surge in March deliveries for Airbus, sending the manufacturer’s shares higher. Airbus reported slightly higher deliveries for the first quarter and posted 39 gross orders, including a new deal for 20 A220s to an unidentified buyer.
However, the company's net orders - which are adjusted for cancellations - remained in negative territory for the first quarter, with a total of minus 61 net orders dominated by a Norwegian cancellation unveiled in the previous month.
The brisk pace of deliveries confirms a report that the world's largest planemaker was poised to match or even eclipse the 122 deliveries seen in the first quarter of last year after a surge in March.
Airbus shares rose more than 2 per cent on Friday.
Both Airbus and Boeing have had to cut production and lay off thousands of people as the pandemic hit air travel, with Boeing also emerging from a safety crisis over its 737 MAX.
Several analysts said the surprise leap in March deliveries put Airbus on course to hit its full-year target of repeating the 566 aircraft supplied in 2020, a year marked by Covid-19.
Internally, the planemaker is aiming for more than 600 deliveries, suppliers say.
However, with more than 100 jets already sitting outside its factories as airlines try to save cash, Airbus once again produced more than it delivered in the first quarter.
That implies a $1 billion build-up in inventory, Stifel analyst Harry Breach said.
Latest data highlighted a trend of buyers upgrading orders for the 150-seat A320neo to the larger A321neo, which can seat more than 200 passengers - a segment in which Airbus has been strongly outselling US rival Boeing.
Leasing company Avolon ordered eight single-aisle aircraft but cancelled eight others and converted some orders to different variants, coming out unchanged in volume terms.
A handful of Chinese airlines or lessors, which had previously not been identified, emerged as the buyers of single-aisle aircraft, meaning no new addition to the order tally.
Analysts said attention would turn to production plans for the rest of the year as the outlook for aviation is split between a domestic recovery seen in the US and China and concerns over a third pandemic wave in Europe and depressed long-range travel.
Airbus plans to increase single-aisle output from 40 a month to 43 in the third quarter and 45 in the fourth.
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
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Price: From Dh149,900
RACECARD
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m
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6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Stan%20Lee
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How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
COMPANY%20PROFILE
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COMPANY%20PROFILE
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'Gold'
Director:Anthony Hayes
Stars:Zaf Efron, Anthony Hayes
Rating:3/5
UAE currency: the story behind the money in your pockets
Brief scoreline:
Wales 1
James 5'
Slovakia 0
Man of the Match: Dan James (Wales)
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5