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Airbus shares fall on lower output targets amid Pratt & Whitney row
(Sharecast News) - Airbus shares fell on Thursday as the aircraft maker said major shortages of Pratt & Whitney engines had led to a slowdown in production of its A320 jets, forcing it to cut delivery targets and threaten action to enforce its contractual rights with the supplier. The company said it now expected to make 70 - 75 of its best-selling A320 aircraft a month by the end of next year compared with a previous target of 75.
"Pratt & Whitney's failure to commit to the number of engines ordered by Airbus is negatively impacting this year's guidance and the ramp-up trajectory," Airbus said in a statement as its shares fell 6%.
Pratt & Whitney makes engines for 40% of the narrowbody A320neo-series jets.
Airbus chief executive Guillaume Faury said the engine shortage remained "significant" and later added on an earnings call that Airbus wanted to enforce its contractual rights against Pratt & Whitney.
The group is forecasting roughly 870 commercial aircraft deliveries this year compared with 793 planes in 2025 and
Revenue for the three months to the end of December grew 5% year on year to €25.98bn euros, lower than forecasts of €26.51bn. Adjusted operating profit rose 17% to €2.98bn, beating estimates of €2.87bn, according to a company-compiled consensus.
Reporting by Frank Prenesti for Sharecast.com
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