NEW YORK (TheStreet) -- Shares of Airbus Group (EADSY) declined 0.70% to $17.06 on Wednesday as the company said its new narrow-bodied A320neo commercial jet would not be ready by the end of the year.
Documentation issues for the new plane have caused delivery to be pushed to early 2016, the Wall Street Journal reports. The company, along with engine maker Pratt & Whitney, said it wants to guarantee a "service-ready A320neo from Day 1," according to the Journal.
Airbus had long pledged to deliver the aircraft, which is the first of its upgraded single-aisle planes, before January 1, 2016.
The A320neo is expected to be delivered "within the next weeks," the company said.
Although delaying the plane's delivery will have an insignificant financial impact, the company faces mounting pressure to build A320neo planes quickly after it received orders for more than 4,400 of the model through November, the Journal added.
The France-based company manufactures aircrafts, helicopters, commercial space launch vehicles, missiles, satellites, defense systems and defense electronics.