During 2021, Airbus (OTC:EADSY) has extended its recovery from the shock of the COVID-19 pandemic. The European aerospace giant delivered 297 commercial jets in the first half of the year, putting it on track to meet its guidance for 600 deliveries this year. Last year, the company delivered 566 commercial jets, as the pandemic sapped demand.
The only blemish on Airbus’ recovery in the first half of 2021 was that it captured just 165 gross aircraft orders — and only 38 net of cancellations. However, order activity revved up in August. That’s great news for Airbus shareholders.
Orders finally show up
Airbus’ order slump continued in July. The company booked just a single order for two A320neos that month, while customers canceled a total of seven orders. That gave it just 33 net orders for the first seven months of the year.
Fortunately, Airbus turned things around last month. Five airlines ordered 102 aircraft during the month. Just as importantly, Airbus recorded only three order cancellations. That gave it 99 net orders for commercial jets in August, quadrupling its year-to-date net order total to 132.
Airbus started the month strong, as German airline Condor finalized an order for seven A330neos — a slow-selling model — on Aug. 3. (Airbus had publicly announced the deal in late July.) The aircraft manufacturer also booked an order for a single A320neo the same day.
Later in the month, Airbus received three significant orders for its best-selling A320neo family. Delta Air Lines topped up its order book by exercising purchase rights for 30 more A321neos. Top South American airline Latam ordered another 28 A320neos. And near the end of the month, Airbus poached a customer from Boeing, as British leisure airline Jet2.com placed a firm order for 36 A321neos.
The 99 net orders Airbus booked last month enabled it to increase its order backlog, particularly for the A320neo…