Airbus to Beat 2011 Plane Goal

Airbus, which has built and handed over more planes than rival Boeing Co. every year since 2003, will have a final delivery tally that’s several more than 530, said the people, who asked not to be identified ahead of an official announcement on Jan. 17.

Boeing fell short of a revised annual goal of about 480 planes by three aircraft, it says today. The Chicago-based manufacturer said in October that it would miss a goal of 485 to 495 planes amid production delays on new 787 and 747-8 models. In the end it handed over 477 planes in 2011.

While aircraft makers get the biggest payments upon delivery, new contracts at Airbus carry initial pre-delivery payments of as much as 5% upon signature, with 20% of the sales price paid out in stages. At Boeing the final payment equals 40% of the contract price.

The U.S. planemaker delivered three Dreamliners and nine 747-8 freighters, lagging behind a combined goal given in October of 15 to 20 of the aircraft.

Boeing has said it will begin deliveries this year of the 747-8 Intercontinental, the passenger version of its biggest model. The first handover had been set for late 2011. Boeing also delivered 73 of its 777s last year, as well as 20 767s and 372 of the 737, the world’s most widely flown plane.