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Italy's Leonardo in wait-and-see mode over Boeing delays
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Italy's Leonardo in wait-and-see mode over Boeing delays
May 7, 2024 11:11 AM

ROME, May 7 (Reuters) - Italy's Leonardo is waiting to

see the impact of Boeing's ( BA ) recent troubles on production,

which could cost the Italian firm some 50 million euros in 2024,

the group's CEO said on Tuesday.

CEO Roberto Cingolani said there was still very little

visibility on the issue. He added that the defence and aerospace

group was ready to "take action" to mitigate any fallout but

cautioned that it may have to push back the break-even of its

aerostructures unit, which had been expected in 2025.

"Boeing ( BA ) is going through some problems, we are tuned to see

the impact on (our) production, taking action to mitigate any

fallouts," Cingolani told a post-results analysts' call.

The Italian group designs, develops and manufactures

components for Boeing's ( BA ) 787 Dreamliner airframe.

Cingolani said that in the worst-case scenario, a slowdown

in Boeing ( BA ) orders could have a 50-million-euro ($53.81 million)

impact on full-year results, but gave no further details.

He added that the state-controlled group had received very

little information from its U.S. counterpart, which is currently

overhauling its management as it grapples with a growing crisis

following a mid-air panel blowout on a plane in January.

"Without precise information it is difficult to make a clear

analysis. We need to talk to Boeing ( BA ) first, have numbers and

understand what their plans are," Cingolani said.

($1 = 0.9292 euros)

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