Banc Sabadell | Airbus (AIR) reported on Friday before the opening bell the delivery of 65 aircraft during the month of July (vs. 72 in June 2023 and vs. 46 in July 2022; +41%) bringing total deliveries in 2023 to 381 (vs 341 in July 2022). On the other hand, a total of 60 new orders and 3 cancellations were recorded during the month. Considering cancellations, net orders until July 2023 stand at 1,101 (vs 656 in July 2022).
Assessment: The deliveries figures are positive as they again reflect the improving supply chain situation (one of the main near-term value risks) and support the 2023 delivery target of 720 aircraft, which they have just reiterated in 2T23 results. Thus, AIR should deliver around 68 aircraft per month until December, a target that is achievable.
