Airbus Cuts Delivery Target Amid Supply-Chain Woes, Shares Fall
28 Luglio 2022 - 10:36AM
Dow Jones News
By Cristina Roca
Airbus SE shares traded sharply lower Thursday after the
European plane maker trimmed its closely-watched aircraft delivery
guidance for the year and slowed production plans, blaming
supply-chain delays.
It now plans to deliver about 700 planes this year, compared
with previous guidance of 720, it said late on Wednesday.
Airbus backed plans to ramp up production of its A320 family of
planes to 75 a month in 2025, but said production would ramp up
more slowly than previously planned due to constraints in its
supply chain.
At 0750 GMT, shares traded 5% lower at EUR100.84.
The cut to this year's delivery target is small, but it suggests
that Airbus might have underestimated the bottlenecks in its supply
chain, and the consequences reach beyond this year, Deutsche Bank
analyst Christophe Menard said in a research note. About 100 planes
are currently sitting on Airbus's assembly line waiting for missing
parts, he said.
Despite the cut to its delivery guidance, Airbus backed its
financial targets for the year.
For the second quarter of 2022, Boeing Co.'s European rival
reported a 31% fall in adjusted earnings before interest and taxes.
The result came in at EUR1.38 billion, slightly above a
company-compiled consensus forecast of EUR1.33 billion. Airbus
delivered fewer planes than it did a year prior, and revenue fell
10%.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
July 28, 2022 04:21 ET (08:21 GMT)
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