Airbus helicopter deliveries down 33% in third quarter
Airbus, the European aerospace giant, saw its helicopter deliveries plummet 33% year-on-year (YoY) in the third quarter, from 78 units to 52 units. This decline resulted in a 17%YoY drop in revenue for the company’s helicopter segment, from €1.7bn to €1.5bn.
Subsequently, helicopter segment earnings-before-income tax (EBIT) fell 13% YoY to €143m from €165m.
The company attributed lower deliveries to a number of factors including supply chain disruptions, the ongoing war in Ukraine, and the economic slowdown in China.
Airbus’ helicopter net order intake also took a hit, falling 22% YoY from 246 units to 191 units. This contraction shrunk the order book by 5% YoY to 751 units.
The decline in new orders was partly due to the cancellation of several orders from Russian customers, as well as the ongoing uncertainty in the global helicopter market.
Despite the setbacks in the helicopter segment, Airbus managed to eke out a positive quarter overall. The company’s commercial aircraft deliveries were up, and its satellite business performed well.
On a cumulative basis, during the nine months, Airbus delivered 197 helicopters, four more that it did in 2022. The helicopter segment’s revenue during the nine months stood at €4.6bn, slightly higher than €4.5bn in the preceding year.
“We continue to make progress on our operational plan in a global environment that has become increasingly complex,” said Guillaume Faury, CEO, Airbus. “The nine-month earnings reflect higher commercial aircraft deliveries, the good performance in helicopters as well as charges linked to the reassessment of certain satellite development programmes.”
Overall, Airbus’ third-quarter results were a mixed bag. The company’s helicopter segment struggled, but its commercial aircraft and satellite businesses performed well. Airbus remains confident in its ability to weather the current challenges and emerge stronger.
Airbus Q3 helicopter results at a glance
- Deliveries down 33% YoY to 52 units
- Revenue down 17% YoY to €1.5bn
- Net order intake down 22% YoY to 191 units
- Helicopter order book down 5% YoY to 751 units