Airbus (EPA:AIR), MTU (ETR:MTX) hydrogen engine plan hits shares as investors look for progress
Airbus SE is moving into engine-making, something civil aircraft companies usually avoid. The company and MTU Aero Engines AG plan a joint venture to build and sell a fully electric hydrogen fuel-cell engine for commercial jets. They aim to start in 2027 if regulators and labour sign off. Airbus called the move the “next logical step.” MTU’s Stefan Weber said they want a “safe, reliable and economical” propulsion system. Investors didn’t price in any short-term lift for the project. Google Finance listed Airbus at 198.56 euros as of 1647 CEST, down 2.64%, valuing the company at 156.99 billion euros with a P/E of 31.32. MTU was at 356.40 euros at 1646 CEST, off 3.18%, giving it a 19.21 billion euro