1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Airbus SE
  6. News
  7. Summary
    AIR   NL0000235190

AIRBUS SE

(AIR)
  Report
Real-time Euronext Paris  -  11:35 2022-08-05 am EDT
104.78 EUR   +0.91%
08/04Air Lease chairman says progress payments to Airbus, Boeing under scanner
RE
08/04Air Lease tops profit as strong jet demand power lease rates
RE
08/04Brazil's Embraer sticks to 2022 forecasts as Q2 net profit falls
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Qatar Airways and Airbus set for court clash over A350 paint dispute

05/26/2022 | 12:53pm EDT
FILE PHOTO: An undated image shows what appears to be paint peeling, cracking and exposed expanded copper foil (ECF) on the fuselage of a Qatar Airways Airbus A350 aircraft

LONDON (Reuters) - Airbus and Qatar Airways are heading towards a three-month summer trial next year after a UK judge granted the airline a relatively quick timetable while dismissing its procedural claims in a bitter safety and contractual dispute.

The judge told a division of London's High Court there was "public interest" in the outcome of the dispute, which has seen the Gulf carrier question the safety of about two dozen grounded A350 long-haul jetliners over flaws in their protective skin.

Airbus has acknowledged these and other jets are suffering erosion to the painted surface and a layer of lightning protection but insists with the backing of European regulators they are safe, despite Qatar's refusal to take more deliveries.

"I am in absolutely no doubt that this case should be tried as soon as is practically possible," Judge David Waksman said, backing the airline's call for a speedy trial.

However, he rejected a bid by the airline to split the trial into two parts to allow Airbus to perform a deeper technical analysis, something the planemaker says it has already done.

He also refused to order Airbus to stop formally trying to deliver more A350s to Qatar Airways, or to refrain from re-selling undelivered aircraft, while the dispute drags on.

The procedural ruling means Airbus is free to attempt to trigger payment clauses as more planes are built. It can also try to sell A350s that Qatar has rejected to carriers like Air India, which industry sources say could step in as a buyer.

The clauses are part of thousands of confidential documents likely to come under the microscope during the trial as two of the industry's most powerful players battle in open court.

Qatar Airways has questioned the jet's defences against lightning, which strikes commercial jets about once a year, and is suing Airbus for $1 billion in damages for idled planes.

Airbus has counter-sued for the return of millions of dollars of credits awarded when jets were sold and accused Qatar of refusing to take planes as a device to tackle overcapacity.

LEGAL COSTS

Qatar Airways said an "expedited trial (would) provide a swift resolution of this unprecedented dispute" and allow it to assess the cause of damage to aircraft that Qatar has grounded.

Airbus hailed the blocking of the airline's injunction requests and renewed calls for a settlement. "The continued litigation is not in the interests of either party," it said.

Waksman urged both sides to enter a "period of reflection" between now and next June when a window for the trial opens.

"At the moment this case looks unsettleable - that might change," he said.

Speaking to a courtroom packed with representatives of top law firms, he deplored the legal circus surrounding the collapse of one of aviation's closest commercial partnerships.

"The costs for both sides are way over the top in my judgment. There is far too much time that is being spent here," he said.

Other airlines continue to fly the A350 after European regulators reaffirmed the design.

The dispute widened in January when Airbus revoked a separate contract with Qatar for smaller A321neo jets.

Barring a settlement, the full trial is expected to embrace both the A350 and A321neo contracts and explore technical and commercial decisons dating back to Qatar Airways' agreement to launch the A350 as its largest customer in 2007.

The public divorce has drawn concerns in private from top officials in Qatar and France, where Airbus is based, but so far neither state has intervened directly, diplomats say.

(Reporting by Tim Hepher; Additional reporting by Mahmoud Mourad; Editing by Elaine Hardcastle, Kirsten Donovan)

By Tim Hepher


© Reuters 2022
All news about AIRBUS SE
08/04Air Lease chairman says progress payments to Airbus, Boeing under scanner
RE
08/04Air Lease tops profit as strong jet demand power lease rates
RE
08/04Brazil's Embraer sticks to 2022 forecasts as Q2 net profit falls
RE
08/04Meggitt first-half revenue surges on strong aerospace demand
RE
08/03Industrials Up on Hopes U.S. to Skirt Recession -- Industrials Roundup
DJ
08/03BlackSky Technology Gets Reseller Partnership With Airbus to Expand Dynamic Monitoring ..
MT
08/03Airbus axes remaining A350 jet deal with Qatar Airways -sources
RE
08/03Airbus Revokes Remaining Qatar Orders for Its A350 Planes
DJ
08/03Airbus axes remaining A350 jet deal with Qatar Airways -sources
RE
08/03Airbus Cancels Qatar Airways Order For Remaining A350s
MT
More news
Analyst Recommendations on AIRBUS SE
More recommendations
Financials
Sales 2022 58 803 M 59 723 M 59 723 M
Net income 2022 4 068 M 4 131 M 4 131 M
Net cash 2022 7 318 M 7 432 M 7 432 M
P/E ratio 2022 20,0x
Yield 2022 1,78%
Capitalization 82 513 M 83 804 M 83 804 M
EV / Sales 2022 1,28x
EV / Sales 2023 1,01x
Nbr of Employees 128 873
Free-Float 74,0%
Chart AIRBUS SE
Duration : Period :
Airbus SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AIRBUS SE
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 104,78 €
Average target price 150,86 €
Spread / Average Target 44,0%
EPS Revisions
Managers and Directors
Guillaume Faury Chief Executive Officer & Director
Dominik Asam Chief Financial Officer
René Richard Obermann Chairman
Sabine Klauke Chief Technical Officer
Alberto Jose Gutierrez Moreno Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
AIRBUS SE-6.75%83 804
THE BOEING COMPANY-18.02%98 003
TEXTRON INC.-16.58%13 623
DASSAULT AVIATION51.26%12 144
AVICHINA INDUSTRY & TECHNOLOGY COMPANY LIMITED-22.26%4 116
JOBY AVIATION, INC.-8.63%4 045