...June 26, 2024 This report does not constitute a rating action. PARIS (S&P Global Ratings) June 26, 2024--S&P Global Ratings said today that Airbus SE (A/Stable/A-1)'s reduction to its 2024 aircraft deliveries target and additional provision on certain space programs do not impair its solid rating headroom for now. We think that Airbus has the headroom to accommodate these operating setbacks thanks to its solid net cash position. On June 24, 2024, Airbus reduced its targeted aircraft deliveries by about 30 aircraft to 770 for 2024. It also pushed back the date at which it expects to reach a monthly production rate of 75 aircraft for its A320 family by one year to 2027 due to persisting supply chain issues. In addition, relating to the revision of the costs estimate at completion for certain space programs for telecom and navigation applications the company will record a provision of 0.9 billion in the second quarter of 2024. This comes on top of a provision of 0.6 billion already accounted...
