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Shares in Airbus tumbled 10 per cent on Tuesday after the plane maker cut its annual profit forecast because of persistent supply chain disruptions and challenges in its space business.
After the French stock market closed on Monday, Airbus said it would deliver “around 700” aircraft this year, down from a previous target of “around 800”. The group blamed a “degraded operating environment”.
The company also pushed back its target to produce 75 of its best-selling A320 family of jets from 2026 to 2027.
As a result, the aerospace and defence group now expects adjusted earnings before interest and tax of €5.5bn this year, down from a previous forecast of as much as €7bn.
Airbus also said it would record a charge of about €900mn in the first six months of the year related to its space systems business, which has been beset by problems.
Shares in Airbus were down 10 per cent in early trading on Tuesday.
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