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09 Apr 2021 | 10:43

Airbus shares rise after increase in March deliveries

(Sharecast News) - Shares in European planemaker Airbus rose on Friday after the company reported a rise in March deliveries, driven by demand in the US and China. Airbus delivered 72 aircraft last month, taking the quarterly total to 125 - three higher than the same period last year largely before the pandemic effectively shut down air travel. Its shares rose 2% in early trade on Friday.

China ordered 10 Airbus planes rather than Boeing aircraft from the US as the two countries became embroiled in a trade dispute.

Both Airbus and Boeing have cut production in the past year and laid off thousands of staff due to the crisis. The American manufacturer has also had to deal with a grounding of its 737 MAX short-haul jet after two fatal crashes.

Airbus took net 28 orders, taking the net total this year to minus 61 after Norwegian Air Shuttle announced major cancellations in February. Gross orders came in at 39, including a new deal for 20 A220s to an unidentified buyer, Airbus said.

Leasing company Avolon ordered eight single-aisle aircraft but cancelled eight others and converted some orders to different variants, coming out unchanged in volume terms.

However, forward bookings for May to September remain at just 15% of 2019 levels in Europe and 14% in Asia, according to the International Air Transport Association.

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