1108 GMT - MTU Aero Engines delivered some surprises in its 2022 guidance compared with original expectations, such as continued weakness in the engine portfolio margins, stronger growth in engine portfolio sales, and softer recovery in spare parts, UBS says. The guidance was underwhelming as it implied an about 5% downside to the latest company consensus on EBIT, according to the bank. Short-haul traffic is expected to recover in 2023 and that will drive demand growth in the engine portfolio and pick-up in aircraft deliveries, according to UBS. However, long-haul will take longer to recover due to remaining Covid restrictions, says UBS. MTU Aero trades 2.8% lower at EUR181.50. (cecilia.butini@wsj.com)
MTU Aero 2022 Guidance Seen as Underwhelming -- Market Talk
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