...The change in Outlook reflects Fitch Ratings' expectation that Airbus SE is likely to demonstrate a material increase in cash generation (both funds from operations (FFO) and free cash flow (FCF)) over the next one to tw o years. It also factors in our expectations that Airbus's cash flow profile w ill improve to levels that are consistent w ith an `A' rating in that period. Recent financial performance has show n the positive impact of the transition of certain key aircraft programmes from their development to production ramp-up stages as w ell as low er restructuring charges. The ratings reflect Airbus's strong position in the large commercial aircraft (LCA) market, a sizeable order backlog and robust liquidity profile. The company's capital structure and financial flexibility are strong for the rating and underpin the present overall rating profile of Airbus. We expect both to remain stable over the short to medium term....
