...Business Risk: Strong Financial Risk: Minimal + Leading market position as one of the two largest global manufacturers of large commercial aircraft. + Healthy aircraft demand supported by growing air traffic. + Substantial order backlog of 7,464 aircraft (as at July 31, 2018), amounting to about nine years of production. + Ramp up of production rates to deliver on backlog. Reliant on timely delivery of high quality components by suppliers. + Below average EBITDA margin of 7.6% in 2017. + Some execution risks on key military and civil aircraft programs, including ramp up in production rates. + U.K. operations supply virtually all the wings for the commercial aircraft, which are critical to the group. This exposes Airbus to risks of major disruptions if the U.K. departs from the European Union in a disorderly way in March 2019. + S&P Global Ratings-adjusted cash expected to continue at year-end 2018 and 2019 at about 5 billion, which creates significant financial headroom within the ratings....
