As Boeing Company (NYSE: BA) grapples with multiple crises and business challenges, the CEO of peer Airbus SE (OTC: EADSY), the European aircraft manufacturing giant, has reportedly highlighted how these issues are tarnishing the aerospace industry's overall reputation.
Guillaume Faury expressed his discontent at the "Europe 2024" conference in Berlin about Boeing's technical issues, stating, "I am not happy with the problems of my competitor. They are not good for the industry a whole," as reported by Reuters.
Boeing recently directed 787 Dreamliner operators to examine cockpit switches after a LATAM Airlines 787's sudden descent injured over 50 passengers.
At the same event in Berlin, French Finance Minister Bruno Le Maire commented on the current states of Airbus and Boeing, favoring the European manufacturer. "I prefer Airbus' situation to that of Boeing," he remarked, as per the report.
Additionally, it was recently reported that United Airlines Holdings, Inc. (NASDAQ: UAL) is nearing a deal to get roughly 36 Airbus A321neo jets, replacing delayed Boeing 737 Max 10 orders, with deliveries from 2025 to 2027. This move benefits Airbus, as United was a significant first buyer of the Max 10.
Price Action: BA shares are trading higher by 0.50% at $180.75, and EADSY is up by 1.71% at $45.09 on the last check Tuesday.