February 12, 2018 / 8:34 AM / 2 years ago

Airbus shares fall after engine snag halts some deliveries and tests

FILE PHOTO: An Airbus logo is pictured during delivery of the new Airbus A380 aircraft to Singapore Airlines at Airbus's headquarters in Colomiers near Toulouse, France, December 13, 2017. REUTERS/Regis Duvignau/File Photo

PARIS (Reuters) - Shares in European planemaker Airbus fell on Monday after sources said Airbus had stopped delivering A320neo jets powered by Pratt & Whitney geared-turbofan engines and halted pre-delivery test flights after some engine snags.

Airbus shares, which hit a record high of 94 euros last month, were down by 1.1 percent at 82.61 euros in early session trading, making the stock the worst performer on France’s benchmark CAC-40 index.

Airbus has briefed airlines and leasing companies that it cannot say how long it will take to resolve the engine problem, one source told Reuters on condition of anonymity.

An Airbus spokesman said it is “in discussions with customers about delivery schedules” on a case-by-case basis.

Reporting by Sudip Kar-GuptaEditing by Richard Lough

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