Higher costs, however, cut into Airbus’ profit margins, leading to concerns the company may struggle to capitalize on Boeing’s issues. The company blamed the higher costs on a series of one-off issues, alongside the impacts of supply chain problems, increased R&D costs, and wage inflation.

Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing.

Airbus posted higher revenue and profit for the first quarter, backed its goal to deliver more planes this year than in 2023 and decided to increase production of its A350 wide-body jets, extending its lead over beleaguered rival Boeing.