Reported 8 months ago
European aerospace giant Airbus announced a reduction in profit and aircraft delivery forecasts for this year due to supply chain issues, leading to a significant drop in its stock price by over 12% to 130.5 euros, a seven-month low. This adjustment includes lowering the estimated pre-tax profit from 65-70 billion euros to around 55 billion euros, reducing free cash flow forecasts from 40 billion to 35 billion euros, and decreasing expected aircraft deliveries from nearly 800 to a maximum of 770. Airbus attributes the adjustments to challenges in the supply chain, delaying the expansion of A320 production targets until 2027, and facing additional cost pressures in its space system division. The company will release its half-year financial report on July 30, acknowledging the impact of commercial and technological challenges on its business.
Source: YAHOO