Airbus warned late on Monday that it’s experiencing a shortage on engines, aerostructures and cabin interiors, which in turn is sabotaging the company’s...
The French airplane manufacturer has cut aircraft deliveries by 30 in 2024, joining rival Boeing in production woes.Airbus SE is coming up short on the millions of parts that make up the company’s commercial aircraft, and the situation is getting worse rather than better for the world’s largest planemaker.
Airbus fell as much as 12.4% in Paris, dragging the shares into a 5% loss for the year-to-date period.“The dust needs to settle before we can turn positive again,” said Christophe Menard, an analyst at Deutsche Bank, who called Airbus’s profit warning “stunning.” “June deliveries are apparently sluggish and there is no guarantee at this stage that the new delivery target will be easy to achieve by year-end.
Faury said on the call that the situation has “significantly degraded” in recent weeks, and that the company will end up with gliders by the end of the quarter — industry parlance for planes without turbines. Engine issues are becoming more prevalent, after appearing to be more under control in 2023 and beginning of this year, the CEO said.
Airbus said it will also suffer charges of about €900 million related to some space programs, citing “complex and sophisticated products” that created development risks. As a result, Airbus said it will “evaluate all strategic options such as potential restructuring, cooperation models, portfolio review and M&A options.”
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.
FAA Investigating How Titanium Parts with Falsified Records Wound up in Boeing and Airbus PlanesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
FAA investigating how titanium parts with falsified records wound up in Boeing and Airbus planesBoeing and Airbus said Friday that planes containing the parts are safe to fly, but Boeing said it was removing affected parts from planes that haven’t been…
Read more »
FAA investigating how titanium parts with falsified records wound up in Boeing and Airbus planesFederal regulators are investigating how parts made with titanium that was sold with falsified quality documentation wound up in Boeing and Airbus passenger jets that were built in recent years.
Read more »
FAA investigating how titanium parts with falsified records wound up in Boeing and Airbus planesFederal officials are investigating how parts made with titanium sold with falsified documentation wound up in Boeing and Airbus passenger jets.
Read more »
FAA investigating how titanium parts with falsified records wound up in Boeing and Airbus planesFederal officials are investigating how parts made with titanium sold with falsified documentation wound up in Boeing and Airbus passenger jets.
Read more »
FAA investigating how titanium parts with falsified records wound up in Boeing and Airbus planesBoeing and Airbus declined to say how many planes were built with parts made from the undocumented titanium.
Read more »