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  "documentTitle": "TCI Airbus Letter February 2023",
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  "presentationDate": "2023-02-01 00:00:00",
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      "kind": "paragraph",
      "text": "A much better use of Airbus' prodigious and rising cashflow would be to increase the dividend or to buy back the company's stock, which we think is extremely undervalued.",
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      "text": "We are also concerned that the Airbus board has permitted this potential transaction to proceed. It reflects poorly on the board's decision making and the company's governance.",
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      "text": "In the last year, however, Airbus has consistently missed its aircraft delivery targets. Management should therefore be totally focused on fixing the supply chain and delivering aircraft rather than being distracted by this agreement with Atos.",
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      "text": "In contrast to Evidian, Airbus is one of the highest quality businesses in the world and the outlook for the company's core aviation business is extremely positive. Airbus is the leading global commercial aircraft manufacturer in the fast-growing aerospace industry.",
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      "text": "The proposed transaction with Atos raises serious questions about Airbus' corporate governance",
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