Airbus shares plunge as plane maker cuts profit forecast

World’s largest aircraft manufacturer blames parts shortages for delays in production of A320neo

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Shares in Airbus tumbled on Tuesday after the aircraft maker cut its profit forecast and blamed persistent part shortages, which have affected production of its A320neo jets.

In an unscheduled update late on Monday, Europe’s biggest aerospace group trimmed its delivery forecast, and pushed back the schedule for the production ramp-up of A320neo planes. Airbus also took a €900m (£761m) charge for its troubled space activities.

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