A Lufthansa Airbus A340-313 taxis at Los Angeles International Airport before flying to Frankfurt on May 5, 2024 in Los Angeles, California.
Kevin Carter | Getty Images News | Getty Images
On Tuesday, Airbus said its shares fell 9%. reduction target 2024, including aircraft deliveries and earnings.
Airbus Monday explain Adjusted EBIT is now expected to be around 5.5 billion euros ($5.9 billion), below expectations previous estimate Between 65 and 7 billion euros was confirmed on April 25.
The company said it now expects to deliver about 770 commercial aircraft this year, compared with its previous forecast of closer to 800.
The company’s European-listed shares fell 9.17% as of 8:27 a.m. London time.
airbus
The company said the reduction in guidance was partly related to supply chain issues in Airbus’ commercial aircraft business.
“Airbus faces ongoing specific supply chain issues, primarily with respect to engines, aerostructures and cabin equipment,” the company noted.
Airbus said its aerospace systems unit also faces additional costs. Airbus said it had recognized “commercial and technical challenges” in the business and therefore recorded a charge of about 900 million euros in the first half of 2024.
“These relate primarily to the latest assumptions regarding timelines, workloads, procurement, risks and costs over the life cycle of certain telecommunications, navigation and observation projects,” the company said.
Airbus’ half-year results will be released on July 30.
Earlier this year, Airbus’ first-quarter operating profit fell short of expectations, with then-chief financial officer Thomas Toepfer telling CNBC that the company’s profits were “not particularly strong.”
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