An A380 at Frankfurt Airport
investor conferences are actually there to elim inate ambiguities of analysts in order to arrive at a balanced judgment based on tangible information. The Airbus group has failed this exercise thoroughly in the past two days. After the presentations of all important board members on a two-day event in London, the price fell by more than 16 percent, on Wednesday and Thursday by ten percent by almost 6 percent. This corresponded to approximately 6 billion Euro loss in value or the equivalent of a dozen long-haul aircraft. Even a company that wants to correct excessive future expectations of analysts down, such a reaction can not have intended.
. Author: Christian Schubert, born in 1964, business correspondent in Paris
What happened? The conference was opened by the Chief Executive Officer Tom Enders with the announcement that the Group operating profit (EBIT) in 2016 will not be higher than last year. The disappointed many analysts who had expected a gain of 8 or 9 percent. The background is the continued high cost of development and industrial production of new aircraft. Thus, the long-haul aircraft A350 is gradually converted into mass production, while revamping Airbus A330 and the smaller A320 Neo-versions. All of this takes a lot of money, especially cash, so that the cash flow (cash flow) will be slightly negative in the coming year.
CFO Harald Wilhelm also awakened for the first time in public doubts about the future of the giant flier A380. If not a sustainable business basis could be found for the Greate r machine, the construction must be adjusted he said in an astonishing openness. Later, the entire management tried to row back and said the A380 the “full confidence” from. But the statement that it could not go on with the once promising start flyer as now, was in the room.
Not a single customer has found this year, Airbus. Because the machine is expensive and consumes a lot of fuel; if it is not filled, the operating costs are even higher. 148 of these aircraft currently flying Be in the world, but that is far from the former forecasts. Over the next three years, the A380 production is still busy at Airbus, but what’s next? Then, Airbus has to make the decision to upgrade the A380 with better engines to a “Ne o” version or stop production. So sober was the testimony of Chief Financial Officer William, which was also confirmed by his superior Enders.
© DPA
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If you go to the airline Emirates, Airbus course must now renew the A380 take place tomorrow. The Group of golf is by far the largest customer of Airbus in this segment and deserves claims to be well on the machine. The CEO of the airline, Tim Clark, was on Thursday by telephone interview with the Reuters news agency as well align that talk mightily annoyed him by an adjustment of the A380 program. At the same time he drew: If Airbus improves the machine, Emirates could even double its investment
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