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Airbus may be the perfect positioned firm to learn from the ongoing struggles at its American rival Boeing — however it’s nonetheless scared it might find yourself in the identical boat.
Airbus CFO Thomas Toepfer informed CNBC that the corporate is “obsessed” with making sure its safety and quality standards keep excessive so it doesn’t must cope with the identical mess that Boeing is caught in with the 737 Max. The planes have been presupposed to be the corporate’s future, however production delays made worse by a 737 Max 9 door plug blowout in January have turned them right into a headache.
“The way in which I’d take a look at it’s … it’s an element that makes us even suppose extra, how can we ensure that this stuff won’t ever occur at Airbus?” Toepfer stated Thursday.
What has occurred is that Airbus inventory is up greater than 20% thus far this yr, whereas Boeing stock is down almost 28%.
Placing the rivalry apart
Airbus informed traders final month throughout an earnings name that the corporate knows it is in a “very aggressive competition” with Boeing for enterprise from industrial airline corporations. Boeing was the chief between the 2, however because the final 737 Max disaster in 2018, Airbus has taken the business’s prime spot.
A report final week revealed that United Airlines is even leasing Airbus planes whereas it waits on delayed 737 Max fashions. However Toepfer informed CNBC that his firm remains to be sympathetic to Boeing’s struggles.
“We’re not pleased with the problems that our competitor’s having,” he stated. “I believe it’s not useful for the business, and if it’s not useful for the business, it’s not useful for Airbus.”
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