Europe is running out of time to avoid wasting billions on building two rival fighter jets, the head of Airbus warned.

Airbus CEO Guillaume Faury said he could see the two separate European programmes working on new fighter jets and combat air systems being combined in future or at least designed to work together.

Guillaume Faury says potential areas of synergies amid budgetary constraints include development of drones and sensors

Boeing must turn its fortunes around this year to avoid falling further behind Airbus, which plans a production increase as it fixes its supply chain.

Deliveries of new Boeing jets bounced back in December after a crippling labor strike that slowed production last fall, but the company's annual deliveries dropped in 2024 to the lowest level since the COVID-19 pandemic.