February 8, 2018 / 8:24 AM / a year ago

Airbus shares fall after warning on A400M provisions

PARIS, Feb 8 (Reuters) - Shares in European planemaker Airbus fell on Thursday after the company said it was considering increasing a provision for losses on its contract for the troubled A400M military transport plane.

Airbus shares were down around 1 percent in early trade, making it one of the worst performers on France’s benchmark CAC-40 index, which was down 0.3 percent.

Late on Wednesday, Airbus issued a warning over the A400M plane programme after its European NATO buyers agreed to negotiate a new delivery schedule and contract terms.

The A400M - ordered by Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey - has been hit by engine gearbox problems and delays in fitting parachuting capacity and advanced defences. (Reporting by Sudip Kar-Gupta; editing by Jason Neely)

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