Airbus cuts key targets and takes hefty Space charge
PARIS -Airbus softened key industrial and financial targets and took a hefty 900-million-euro charge for its troubled space activities as Europe's largest aerospace group sought a clean slate approach to supply disruptions and commercial risks.
As a result of the lower delivery forecasts, which imply annual growth of 5% instead of 9%, Airbus lowered its main financial targets for 2024. The downward revision in industrial forecasts comes weeks after Reuters first reported that Airbus was facing a new set of output delays as it grapples with increased parts shortages.
One senior supply chain executive questioned on Monday whether the latest reductions went far enough. Faury said engine makers would have to"face the consequences" of any delays, apparently referring to penalties.Faury also told reporters that an uncertain outlook for the industrial commitments of aerostructures maker Spirit Aerosystems had contributed to the downward revision.
The Wall Street Journal reported on Monday that Boeing has proposed funding its acquisition of the supplier with stock rather than cash after the companies were closing in on an all-cash deal this weekend when Boeing switched the offer.Shortages of seats and cabin parts are another"very difficult situation," Faury said.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Space is the limit' for area's lone 2024 graduate to join the U.S. Space ForceFollow us here to get the latest top headlines with KENS 5 anchor Sarah Forgany every weekday!
Read more »
1st annual space piracy conference aims to combat space crime and smugglingThe First Annual Space Piracy Conference, scheduled for early next year by the Center for the Study of Space Crime, Policy, and Governance (CSCPG), will gather experts to address growing concerns of space crime and smuggling, discussing risks and solutions from various perspectives.
Read more »
Scientists 'Absolutely Gutted' as Door Jammed on Expensive Space Telescope, Blocking Its View of SpaceScience and Technology News and Videos
Read more »
New research investigates how short-term space travel affects 'space tourists'New studies show that space tourists experience some of the same body changes as astronauts who spend months in orbit. These changes mostly revert to normal after people return home.
Read more »
Investing in Space: The China factor in the U.S. space station race to replace the ISSThe U.S. is in the throes of sorting out what to do when the ISS comes back to Earth.
Read more »
Original Kennedy Space Center honored with plaque to commemorate early days of space travelCurrent and former employees attended the event to reflect on the advancements made since the beginning.
Read more »