Airbus and Boeing, two of the world’s largest plane makers, revealed their financial results for the first six months of 2022.
According to data from financial reports, Boeing accumulated slightly more revenue than Airbus during the first half of 2022.
Boeing’s revenues fell slightly to $30.7 billion in H1 2022 in contrast to $32.2 billion during the first half of 2021. Meanwhile, Airbus’ consolidated revenues grew narrowly during the first half of 2022, with $24.8 billion accumulated in contrast to $24.6 billion during the same period the previous year.
In terms of net income, Airbus clearly led the way during the first half of 2022. In H1 2022, Airbus reported a net income of $1.9 billion, whereas Boeing posted a net loss of $1 billion.
Boeing’s negative results were driven by “lower defense volume and unfavorable performance”, the report said. Additionally, Boeing is awaiting approval from the US Federal Aviation Administration (FAA) to restart Dreamliner deliveries after they were halted in 2021 over manufacturing issues.
Boeing said it still expects total one-off costs of approximately $2 billion due to issues with the 787, with most set to be incurred by the end of 2023. It acquired costs of $283 million for the 787 in the second quarter.
It is also worth noting that H1 2021 was a better period than H1 2022 for both manufacturers. Airbus reported a net profit of $2.2 billion, while Boeing reported $6 million.
In the financial report, Airbus said it had a “solid” H1 2022 financial performance but warned about “supply chain challenges” which led the manufacturer to adjust the A320 Family ramp-up steps and now targets a monthly rate of 65 in early 2024, around six months later than previously planned. Looking ahead, Airbus aims to deliver 700 aircraft in 2022.