Boeing rival Airbus shares fall 11% as company cuts 2024 guidance on targets, deliveries and cash flow

- Airbus shares fell by close to 12% after the company announced cuts to its 2024 financial targets, including earnings before tax and interest and commercial aircraft deliveries - Airbus now expects adjusted earnings before interest and taxes to be around 5.5 billion euros, down from a previous estimate of 6.5 to 7 billion euros - The company anticipates delivering approximately 770 commercial aircraft this year, compared to a previous estimate of around 800 - The guidance cuts are due to supply chain issues in Airbus' commercial aircraft business and additional costs in its space systems division - Airbus recognized charges of around 0.9 billion euros in the first half of 2024, mainly related to certain telecommunications, navigation, and observation programs - Airbus' half-year results are set to be released on July 30.

🚨 Reddit sentiment: negative - Most comments criticize Airbus for not taking advantage of Boeing's struggles and for operational inefficiencies. Summarized comments: - Discussion about Airbus potentially failing despite Boeing's issues - Criticism of Airbus's failure to capitalize on Boeing's downfall - Mention of Airbus having production capacity maxed out for the next decade and needing to maintain a steady pace - Comparison of Airbus's profitability with Boeing's losses since 2018 Stock tickers discussed: $BA, $AIR