Airbus lifts profit target as it presses advantage over Boeing

Chief executive officer (CEO) Guillaume Faury is seeking to rally suppliers still hurting from the downturn behind a plan to accelerate production toward levels envisioned before the pandemic hit.

LONDON: Airbus SE boosted its financial targets for the second time this year while confirming a production ramp-up that would cement the European planemaker’s advantage over rival Boeing Co.

The shares rose as much as 3.2% yesterday after Airbus said adjusted operating profit will reach €4.5bil (US$5.2bil or RM21.58bil) in 2021. The European planemaker reversed some of the charges it had taken for Covid-19 disruptions as it gained confidence the pandemic’s impact was fading.