Airbus Booked More Helicopter Orders in 2018, Suggesting Demand Recovery

   By Robert Wall

European aerospace giant Airbus SE (AIR.FR) on Wednesday said it secured more helicopter orders in 2018 than in the previous year, suggesting that chopper demand may be slowly recovering after a period of low crude prices depressed commercial demand from the vital oil-and-gas sector.

Airbus said it logged 381 net helicopters orders last year compared with 335 in 2017. The orders include 28 of its NH90 military helicopters for Qatar and 15 orders for its new H160, with first deliveries planned in 2020.

Deliveries, though, continued to sag, falling 13% to just 356 handovers. Airbus delivered 418 helicopters in 2016 and 409 last year. The Toulouse, France-based company defended its position as the world's largest civil helicopter maker by deliveries of models with more than five seats.

The combination of falling deliveries and rising orders allowed Airbus to expand its helicopter backlog for the first time in several years. The company exited 2018 with a backlog of 717 helicopters--slightly less than two years of production.

Airbus Helicopters Chief Executive Bruno Even said it "remains a challenging environment" for the rotorcraft business.

Airbus next month reports full-year financial figures, including the earnings performance of its helicopter operation, defense and space arm, and the far larger commercial-plane business that generates the most revenue and profit.

Write to Robert Wall at robert.wall@wsj.com

(END) Dow Jones Newswires

January 23, 2019 02:44 ET (07:44 GMT)

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