Airbus posted a 46% drop in consolidated net profit for the first half as significant charges in its space business incurred during the second quarter offset a 29% rise in reported earnings from its commercial business. First-half 2024 net profit came in at €825 million, down from €1.53 billion in the first half of last year, as revenue rose four percent to €28.8 billion. For the quarter ended 30 June, the group posted a 78% fall in net income to €230 million as revenue rose marginally to just under €16 billion, reflecting those charges incurred by its space unit. Earnings before interest and tax (EBIT) at the commercial aircraft business rose 29% to €1.97 billion over the half-year period as revenue rose four percent to €21.2 billion as deliveries rose by seven units to 323 aircraft. Those were comprised of 28 A220s, 261 A320 family jets, 13 A330s and 21 A350s. The company reported 327 new gross commercial aircraft orders, compared to 1,080 in the corresponding period, maintaining an order backlog of 8,585 jets at the end of June. Airbus affirmed its June guidance that it expects to deliver around 770 aircraft this year, down from a previous forecast of approximately 800. "In commercial aircraft, we are focused on deliveries and preparing the next steps of the ramp-up, while addressing specific supply chain challenges and protecting the sourcing of key work packages," says chief executive Guillame Faury. The airframer continues its ramp up towards a rate of 75 A320 family aircraft per month, which it now expects in 2027, compared to 2026 previously. "The A220 ramp-up continues towards a monthly production rate of 14 aircraft in 2026, with a focus on the programme's industrial maturity and financial performance," it adds. On widebody aircraft, Airbus continues to target a monthly production rate of four A330s in 2024 and "rate 12" for the A350 in 2028. It says the war in Ukraine has increased its exposure to supply chain disruption risk, "given that part of the titanium used by the company is sourced from Russia, both directly and indirectly through the company's suppliers". "As a consequence, the company implemented and is progressing well on the de-risking plan to avoid any shortage in the supply chain. This has prevented the company from experiencing any production disruptions related to that matter in the first half-year 2024." It adds that it maintains compliance with all applicable regulations and sanctions with respect to Russia. Airbus forecasts an adjusted EBIT of about €5.5 billion, and a free cash flow before customer financing of around €3.5 billion in 2024.

IAG has agreed to buy more than 28,000 tonnes of SAF from Spanish energy firm Repsol, in what the airline group labels "the largest voluntary purchase of SAF made to date in Spain". The group had already, when it disclosed a deal with e-SAF producer Twelve at the end of February, secured a third of the SAF required to meet a target of powering 10% of flights with it by 2030, The purchase of fuel from Repsol also gets IAG "closer to the use of 2% of SAF in 2025 as established by the ReFuel EU regulation", adds the group. "Sustainability is a priority for IAG and is one of the pillars on which we base our strategy and transformation," states chief executive Luis Gallego. "We are working intensely to secure our future SAF needs and comply with our commitments, which are more ambitious than what is established by EU legislation." IAG says it has now invested over $1 billion in SAF, of which 86% is for future commitments. Last year, it used more than 53,000 tonnes of SAF, which was an increase of over five times compared with 2022 and "one of the highest volumes in the world", it says. This, it estimates, saved 157,000 tonnes of CO2 being released into the atmosphere. Repsol this year began to produce SAF from its facility in Cartagena in the southeast of Spain. Capacity at the site, in which €250 million ($270 million) was invested, totals 250,000 tonnes per year. "This agreement with IAG, one of the largest airline groups in the world, consolidates our commitment to 100% renewable fuels as a key lever for the decarbonisation of transport in Spain," states Repsol chief executive Josu Jon Ima. "The aviation sector needs solutions such as sustainable aviation fuels and, at Repsol, we are prepared to supply them through our 100% renewable fuels plant in Cartagena." Repsol plans to produce 1.7 million tons of renewable fuels in 2027, rising to 2.7 million in 2030, although SAF will be only part of this.

Air Lease Corporation has delivered a new Airbus A220-300 to Croatia Airlines. This is the first A220 to join the Balkan carrier's fleet, and the first of six being be delivered from ALC's orderbook with Airbus, the US lessor says. Cirium fleets data shows that the six include two A220-100s. Fleets data shows that Croatia Airlines' in-service fleet comprises four A319s, a trio of A320s and six De Havilland Canada Dash 8-400 turboprops. The airline has a total of 13 A220-300s on order, including the four it is taking from ALC. The others will be leased from Griffin Global Asset Management (six) and Azorra (three).