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Airbus (AIR FP) targets Adj. EBIT of EUR 12-13bln in 2029; reiterate its cash conversion target of around 1 over a 5-year horizon; Approves EUR 5bln buyback over three years; 2026 guidance unchanged

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Airbus sets 2029 EBIT targets of EUR 12-13B, launches a EUR 5B buyback, and maintains 2026 guidance, supported by strong Chinese orders and next-gen aircraft development programs.

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