Airbus edges up on Q3 results beat, new planemaking boss

Reuters

Airbus edges up on Q3 results beat, new planemaking boss

2024 10월 31 일, 오전 10:47 GMT

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Oct 31 (Reuters) -** Shares in Airbus AIR.PA rise 2% after the world's largest plane maker posts higher-than-expected Q3 results, and announcesa leadership transition in its top business

** Appoints of Lars Wagner, the current CEO of MTU Aero Engines MTXGn.DE, as CEO of its Commercial Aircraft business, starting in 2026; Wagner to replace Christian Scherer

** "We view this transition positively given the execution headwinds within the Commercial Aircraft business over recent years," RBC says

** "We believe this is a good succession plan for Mr Scherer, with Mr Wagner being an industry veteran with significant experience in managing ramp-ups", Jefferies analysts say

** The company's board of directors is set to propose to shareholders a third term for CEO Guillaume Faury

** AIR reports Q3 EBITA 17% higher than a company-compiled consensus estimate, at 1.23 million euros, which Jefferies sees as a"solid" performance, showing benefit of cost savings

** However, Jefferies says the company's management is not concerned over the guidance, even though it implies a significant step-up in deliveries

** Berenberg says as the company maintainedfull-year guidance, itneeds to deliver 49% of the full-year adjusted EBIT guidance in Q4 vs an average of 36% in the period from 2021-2023

($1 = 0.9211 euros)

Reporting by Anna Peverieri

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Airbus edges up on Q3 results beat, new planemaking boss

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