PARIS (Reuters) - Shares in European planemaker Airbus fell on Thursday after the company said it was considering increasing a provision for losses on its contract for the troubled A400M military transport plane.
Airbus shares were down around 1 percent in early trade, making it one of the worst performers on France’s benchmark CAC-40 index, which was down 0.3 percent.
Late on Wednesday, Airbus issued a warning over the A400M plane program after its European NATO buyers agreed to negotiate a new delivery schedule and contract terms.
The A400M - ordered by Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey - has been hit by engine gearbox problems and delays in fitting parachuting capacity and advanced defenses.
Reporting by Sudip Kar-Gupta; editing by Jason Neely