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)

Copyright (c) 2022 Dow Jones & Company, Inc.
Airbus (EU:AIR)
Gráfico Histórico do Ativo
De Set 2022 até Out 2022 Click aqui para mais gráficos Airbus.
Airbus (EU:AIR)
Gráfico Histórico do Ativo
De Out 2021 até Out 2022 Click aqui para mais gráficos Airbus.