Guillaume Faury 2.2 1 idea

Airbus cut delivery guidance to 870 aircraft (missing expectations by ~30 planes). The CEO explicitly blamed the lack of availability of GTF engines (Pratt & Whitney). This is a supply chain failure, not a demand issue. However, inability to deliver planes means delayed revenue and inventory buildup (cash flow headwinds). The stock is down on "disappointing guidance." SHORT/AVOID. Until the engine supply chain (RTX) stabilizes, Airbus cannot monetize its order book efficiently. Supply chain issues resolve faster than expected, or Boeing stumbles further, pushing more market share to Airbus regardless of delays.