Airbus cut its aircraft delivery target for the year after discovering several issues with its bestselling jet.
The European aircraft manufacturer said new A320s required additional checks, compounding challenges for the firm, which last week ordered the grounding of 6,000 planes over potential faulty software. While the news temporarily weighed on Airbus shares, investors piled back in, pushing the stock closer to record levels on Wednesday.
Despite several recent security and manufacturing issues, both Airbus and its US rival Boeing have recorded surging demand, reflecting the duopoly’s stranglehold over the industry. However, some airlines are considering turning to a Chinese upstart, which made a splashy debut last month at the world’s biggest airshow.