Airbus regains €100 billion market value last seen before Covid

Airbus SE has clawed back a €100 billion ($110 billion) market value last reached before the coronavirus pandemic in early 2020 knocked the stock, as a rapid rebound in air travel swells the planemaker’s order book.

The Toulouse, France-based planemaker last had a market capitalization in excess of €100 billion in the early weeks of 2020, after which the shares suffered an unprecedented slump as travel restrictions and lockdowns forced airlines to park planes and Airbus to scale back output.

While Airbus has projected higher deliveries for this year, part shortages have forced it to slow an ambitious output ramp-up for its best-selling A320 family of single-aisle jets. The planemaker expects adjusted earnings before interest and tax of €6 billion ($6.4 billion) this year, compared with €5.6 billion in 2022.