Airbus Gains After Planemaker’s Late Dash to Meet 2019 Target
Airbus Gains After Planemaker’s Late Dash to Meet 2019 Target
(Bloomberg) --
Airbus SE shares climbed the most in three months after the aircraft manufacturer looked on course to meet its full-year deliveries target, strengthening its hand against wounded rival Boeing Co.
A December flurry of Airbus planes sent to buyers pushed the 2019 number to about 860, based on preliminary findings, according to a person familiar with the matter, who asked not to be identified as the number hasn’t yet been verified. Airbus shares gained as much as 4%, their steepest advance since Oct. 3.
The unaudited figures were reported by Reuters on Wednesday, when markets were closed. An official tally is scheduled to be released later this month, the person said. Airbus declined to comment.
Airbus has turned the tables on Boeing, ramping up deliveries at a time when its U.S. competitor had to halt production of its 737 Max after two fatal crashes. The Toulouse, France-based company needed to flex already stretched production lines to lift deliveries by 75% in December to meet the 860-plane goal.
Airbus shares pared gains to trade 3.1% higher at 134.48 euros as of 1:08 p.m. in Paris.
To contact the reporters on this story: Siddharth Philip in London at sphilip3@bloomberg.net;Andrew Noël in London at anoel@bloomberg.net
To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, John Bowker
©2020 Bloomberg L.P.