Airbus (AIR.PA) overcame new snags in its global supply chain to maintain a widely watched forecast for 600 jet deliveries this year, pushing its shares higher despite signs of labour shortages as the economy exits COVID-19 “hibernation”.

The world’s largest planemaker lifted full-year profit and cash targets after profits held up better than expected in the third quarter, and refused to bow to industry critics who have questioned its bullish forecasts for jet production.

Airbus shares opened up around 3%, ignoring a retreat in global stocks after a series of supply chain warnings, before easing back to stand 1% higher.

Chief Executive Guillaume Faury said the recovery towards pre-crisis output levels was under way after 15 months in which the European group kept its foot on the brake to avoid adding to a glut of aircraft during the airline industry’s worst crisis. Read more