Airbus cuts delivery target, delays goals for faster jet production

Airbus (OTCPK:EADSY) (OTCPK:EADSF) on Monday cut its delivery target to about 770 airplanes from roughly 800 for this year. The European aviation giant also pushed back its target for reaching production of 75 narrow-body airplanes a month by a year to 2027.
The company also announced fresh charges of roughly 900 million euros after its most recent review.
“We are facing headwinds right now; we have to bite the bullet,” Guillaume Faury, chief executive of Airbus (OTCPK:EADSY) (OTCPK:EADSF) said to analysts.