the European airplane maker that competes with
said it would miss a target for delivery this year.
The goal of delivering 700 planes this year is “out of reach,” the company said Tuesday. Nevertheless, it stuck to its full-year financial guidance, suggesting that falling below the target won’t be painful for the bottom line. Deutsche Bank analyst Christophe Menard estimates that Airbus (ticker: AIR.France) will deliver 681 vehicles in the year.
Airbus Chief Executive Officer Guillaume Faury said last week that delivery delays will continue into next year as the supply-chain issues persist. The problems started when production was all but shut down during the Covid-19 pandemic. Shares in the company slipped 1.5% on Wednesday.
Those troubled supply lines have also hit Boeing (BA), which this week produced its last jumbo 747 jet. The plane, which had been in production for 55 years, was at a disadvantage because of its enormous size as the industry started to favor smaller twin-engine models.
Boeing hasn’t given an overall delivery target for planes this year. Analysts expect it to deliver 471, according to FactSet. It will give investors more details next week.
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