European aircraft manufacturer Airbus reported on Wednesday a sharp rise in its third-quarter net profit, and announced that it has maintained its production and delivery targets.
It also announced the replacement of the head of its flagship commercial aircraft division, who took over at the beginning of the year.
With 497 planes delivered so far this year, the group has maintained its delivery target of 770 aircraft for 2024, despite problems with some of its suppliers.
The positive third-quarter results follow a first-half provision of nearly €1 billion for space activities, which had halved net profit. Between July and September, net profit shot up by 22% to €983 million. At the same time, sales rose by 5% in the third quarter to €15.7 billion.
The Airbus Board of Directors has proposed that CEO Guillaume Faury's term of office be extended in 2025. On the other hand, management announced on Wednesday, without giving any explanation, that the head of its commercial aircraft division, Christian Scherer, would be replaced at the end of 2025.
Scherer was appointed to the post in January this year. His successor, Lars Wagner, is scheduled to take up his post at Airbus "at the end of his current term of office" at the helm of German aircraft engine manufacturer MTU Aero Engines.
Wagner's mandate will end on 31 December 2025, according to a separate press release from the German company.
On 16 October, Airbus announced that it was cutting 2,500 jobs by mid-2026 at its satellite production division, which was weighing on its financial performance.
