Airbus CEO highlights Europe's defense collaboration failures amidst rising threats

Airbus CEO Guillaume Faury expressed frustration over the lack of European collaboration on major defense projects in response to Russia's invasion of Ukraine. He emphasized the need for Europe to show unity in addressing new threats and solutions, rather than relying on national responses. Faury suggested that mergers and acquisitions may not be necessary, as successful programs in the past have been based on cooperation and joint ventures. Airbus reported a decline in revenues in its defense and space division, citing delays in Space Systems and Military Air Systems. Despite supply chain challenges, Airbus exceeded analyst expectations for its half-year earnings.