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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE (AIR)
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Engine makers on track with recovery plan for A320 engines, Airbus says

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06/14/2018 | 02:28pm CEST
An employee of Airbus works on a computer in a new A320 production line at the Airbus plant in Hamburg

HAMBURG (Reuters) - Engine makers Pratt & Whitney and CFM are on track with a recovery plan after delays left Airbus having to park dozens of aircraft without engines, an executive at the European planemaker said on Thursday.

"We have agreed on a plan with both of them to catch up with production, both are now hitting the targets and are on track, which is good news," Klaus Roewe, head of the A320 jet family programme, told reporters in Hamburg as Airbus inaugurated a new assembly line for the best-selling single-aisle plane.

The delays in getting engines from United Technologies unit Pratt & Whitney and CFM International, co-owned by Safran and General Electric, have left Airbus lagging behind the pace it needs to reach its full-year delivery goal.

With jets left parked at its production sites while they wait for engines, Roewe said Airbus would have reduced production had it known the extent of the problems.

"Did we intend to build so many airframes to park them? For sure not," Roewe said. "If we had known the size of the technical and industrial problems we might have slowed down production."

He said Airbus would not be parking aircraft by the end of the year, but would still be in arrears in terms of deliveries.

(Reporting by Victoria Bryan; Editing by Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL ELECTRIC COMPANY -1.05% 12.7447 Delayed Quote.-25.79%
SAFRAN -1.07% 98.98 Real-time Quote.16.46%
UNITED TECHNOLOGIES CORPORATION -1.24% 123.83 Delayed Quote.-1.98%
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Financials (€)
Sales 2018 64 320 M
EBIT 2018 5 213 M
Net income 2018 3 569 M
Finance 2018 12 687 M
Yield 2018 1,84%
P/E ratio 2018 21,97
P/E ratio 2019 18,11
EV / Sales 2018 1,01x
EV / Sales 2019 0,89x
Capitalization 77 893 M
Chart AIRBUS SE
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Airbus SE Technical Analysis Chart | AIR | NL0000235190 | 4-Traders
Technical analysis trends AIRBUS SE
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 110 €
Spread / Average Target 10,0%
EPS Revisions
Managers
NameTitle
Thomas Enders Chief Executive Officer & Executive Director
Denis Ranque Non-Executive Chairman
Harald Wilhelm Chief Financial Officer
Luc Hennekens Chief Information Officer
Grazia Vittadini Chief Technology Officer
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