TCI Fund says buying stake in tech biz would be 'extremely inefficient use of shareholder funds'
"Management should therefore be totally focused on fixing the supply chain and delivering aircraft rather than being distracted by this agreement with Atos. Indeed, investors and customers will be questioning whether it is a coincidence that while management has been negotiating the deal, Airbus has just reported one of its lowest aircraft delivery months in the last 10 years," the letter says.
"Airbus is already a hugely complex, multinational organisation and the executive team has always struggled to maintain full control over all the various programs and projects. Every year has brought new charges and delays. The last thing management needs is a new problem child to distract it from Airbus' core business, which for the first time in 20 years looks to be in good order," says the letter.
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