Airbus shares fall as plane maker confirms Faury as next CEO

Airbus shares are lower Wednesday, as the plane maker has confirmed its CEO succession plan and following news VietJet has signed a finance agreement for the purchase of up to 10 Airbus planes.

Airbus shares fall as plane maker confirms Faury as next CEO

Airbus shares are lower Wednesday, as the European aeroplane maker has confirmed Guillaume Faury as its next CEO. The news was announced Tuesday and means the leadership of the business is in place ahead of current CEO, Tom Enders’ plan to step down in April 2019.

By 1230 BST, Airbus shares were 0.60% lower at €101.80. The stock has been moving lower in recent weeks activity.

Airbus next CEO confirmed

Airbus said Tuesday, that the management board has selected Faury as the right candidate to helm the business once Enders leaves the pane maker at the company’s April 2019 AGM. Faury is currently President of Airbus Commercial Aircraft.

“Guillaume is an excellent choice,” Enders said. “He has gained broad industrial and aeronautic experience over many years and in many roles both inside and outside Airbus.”

Chairman of the Airbus Board, Denis Ranque, said the decision to appoint Faury as the next CEO of the plane maker was unanimous.

“His global outlook, extensive operational experience, strong personal values and straightforward leadership style make him the ideal candidate to rally Airbus teams in the delivery of value to customers, partners and shareholders going forward,” Ranque said.

VietJet secures financing for 10 Airbus planes

Separately, VietJet said Wednesday that it has signed a finance agreement to secure the purchase of up to 10 Airbus aircraft.

The Vietnamese airline has a new financing agreement with Mitsubishi UFJ Lease & Finance Company Ltd and BNP Paribas Bank for the purchase of up to five new Airbus planes, worth $614 million at list prices.

VietJet has also signed a memorandum of understanding for a further $625 million for future Airbus aircraft purchases.

“The critical financing agreements signed today once again confirm the confidence of leading Japanese financiers in Vietjet as the airline prepares to launch new routes to Japan soon,” Vietjet’s Vice President Dinh Viet Phuong, said.

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