Positive momentum in deliveries at Airbus continues but questions remain unanswered on the A350 At Airbus we track 54 deliveries in the month of April (6 higher than in April 2022), although we caveat that different data sources point to a wide range of deliveries this month, from 41 to 61 aircraft. We particularly note a strong delivery level of A321s vs A320s at 30 and 13 deliveries respectively. Although April deliveries will be lower than March (61 aircraft) this shows a continued positive momentum relative to the beginning of the year, but we believe it is too soon to talk of an inflexion, especially as A350 deliveries remains a key watchpoint. A350 deliveries have been lacklustre so far this year, with April set to be no different at 3 deliveries expected, bringing ytd deliveries at only 8 aircraft vs 21 over the same period last year. We view this as a key element of clarification the company will have to provide in upcoming communications. 737MAX delivery weighs on Boeing April deliveries At Boeing we expect a low level of deliveries in April, at 21 aircraft, weighed down by the current 737MAX delivery pause (13 aircraft expected vs 28 in April 2022). Reminder that Boeing announced on April 13th that deliveries of the 737 Max-8 aircraft would have to be halted due to a manufacturing defect from its aerostructure supplier Spirit. The manufacturing error would concern quality issues on the fuselage section made by Spirit Aerosystems, with a ''non-standard'' process used for the installation of two fittings in the aft fuselage. 737 Max-9 deliveries are unaffected. 787 deliveries are holding up at 6 aircraft tracked for April. Unequal engine deliveries for the month of April At MTU, we note a strong level of GTFs delivered for the A320 programme, at 54 engines vs 34 in April 2022, the highest level so far this year. This follows a few months of low deliveries to the programme, suggesting MTU was prioritising spare engines to support its...