HAMBURG: Engine makers Pratt & Whitney and CFM are on track with a recovery plan after delays left Airbus having to park dozens of aircraft without engines, an executive at the European planemaker said on Thursday.
“We have agreed on a plan with both of them to catch up with production, both are now hitting the targets and are on track, which is good news,” Klaus Roewe, head of the A320 jet family program, told reporters in Hamburg as Airbus inaugurated a new assembly line for the best-selling single-aisle plane.
The delays in getting engines from United Technologies unit Pratt & Whitney and CFM International, co-owned by Safran and General Electric, have left Airbus lagging behind the pace it needs to reach its full-year delivery goal.
With jets left parked at its production sites while they wait for engines, Roewe said Airbus would have reduced production had it known the extent of the problems.
“Did we intend to build so many airframes to park them? For sure not,” Roewe said. “If we had known the size of the technical and industrial problems we might have slowed down production.”
He said Airbus would not be parking aircraft by the end of the year, but would still be in arrears in terms of deliveries.
Airbus: Pratt & Whitney, CFM on track with recovery plan for A320 engines
Airbus: Pratt & Whitney, CFM on track with recovery plan for A320 engines
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
