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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

(AIR)
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Airbus investing up to 1 billion euros in A220 passenger jet program this year

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02/20/2020 | 09:19pm EDT
Airbus chief executive Guillaume Faury and Quebec Premier Francois Legault speak with reporters in Mirabel

Airbus SE plans to invest between 500 million euros and 1 billion euros ($539 million-$1.08 billion) this year on its A220 passenger jet program, Chief Executive Guillaume Faury said on Thursday at the company's A220 factory in Mirabel, just outside Montreal.

Earlier in February, Airbus raised its stake in the A220 program - known as Airbus Canada - to 75% from 50.1% after teaming up with the government of the Canadian province of Quebec to buy Bombardier's 33.5% stake.

With the deal, Bombardier exited the civil aviation industry and bolstered the European planemaker's position in its ongoing competition with U.S. rival Boeing Co.

The A220, previously known as the CSeries, is a 110-130 seater aircraft, a little smaller than Airbus?s mainstay A320 jet.

Airbus has been ramping up production of the A220 towards its maximum monthly capacity rate of 10 at its facility in Mirabel and to a monthly rate of four in Mobile, Alabama, targets it hopes to reach by the middle of this decade.

Production in the United States has become more important for Airbus since the U.S. government slapped tariffs on jets made in Europe for purchase by U.S. airlines following a years-long tariff dispute.

By Allison Lampert

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -12.03% 52.2 Real-time Quote.-54.52%
BOEING COMPANY (THE) -8.72% 131.545 Delayed Quote.-53.25%
BOMBARDIER INC. -6.59% 0.43 Delayed Quote.-76.42%
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Financials (EUR)
Sales 2020 64 784 M
EBIT 2020 5 512 M
Net income 2020 3 508 M
Finance 2020 8 839 M
Yield 2020 2,77%
P/E ratio 2020 13,2x
P/E ratio 2021 10,4x
EV / Sales2020 0,58x
EV / Sales2021 0,55x
Capitalization 46 444 M
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 98,56  €
Last Close Price 59,34  €
Spread / Highest target 175%
Spread / Average Target 66,1%
Spread / Lowest Target -39,1%
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Managers
NameTitle
Guillaume Faury Chief Executive Officer
Denis Ranque Non-Executive Chairman
Michael Schöllhorn Chief Operating Officer
Dominik Asam Chief Financial Officer
Luc Hennekens Chief Information Officer
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