Rolls-Royce (LSE:RR) shares fell 5% to 450p after trading opened today (June 25). This was notable because we had become accustomed to the star FTSE100 stocks flow in the other direction – towards the sky.

Is this 7% pullback from the high of 485p a good opportunity to add in and strengthen my position? Let’s take a look.

Airbus bomb

The reason why Rolls-Royce fell today was the fall of France Airbus issued a profit warning. The planemaker lowered its full-year delivery forecast, citing “degraded“Operating Environment and Supply Chain Challenges.”

As I write this, Airbus shares are down 10% and are facing their worst day since March 2022. This has reverberated throughout the European aerospace and defense sector, which includes Rolls-Royce.

Airbus uses Rolls-Royce engines in several of its popular aircraft models. In response to a call to analysts for updated guidance, Airbus management noted that engine makers were struggling with supply chain issues.

Regarding the current quarter it was written: “We will produce planes without engines” And that it was “new problem that we didn’t expect“

Asked if the British company was part of the problems, Airbus said: “Rolls-Royce is a small contributor to the difficulties as we have supply issues with the Trent 7000 on the A330. But as far as I know, not on the A350. Therefore, at the moment our main focus is on the impact of CFM and Pratt delays“

CFM International and Pratt & Whitney are Rolls-Royce competitors.

This highlights supply chain risks

So if Rolls-Royce delays the delivery of certain engines, it could experience operational difficulties that could impact its financial performance.

Moreover, Airbus CEO Guillaume Faury said that engine manufacturers “willthey will have to face the consequences of these delays… They will be held accountable for what they have done”

Of course, we do not know whether the company will be entitled to remuneration and whether these problems will have an impact on its operations at all. But I’m sure Rolls is just “marginally” part of Airbus’ production problems.

However, this explains why CEO Tufan Erginbilgic marked “ongoing supply chain challenges across the industry” in the company’s May stock update. It also reminds us that there are several factors beyond Rolls’ control that can get in the way.

Should I buy the dip?

I don’t think this pullback is large enough to justify jumping in and buying more shares. By comparison, the share price returned to the level of early June.

The stock still trades at a forward price-to-earnings (P/E) multiple of around 30. That’s not particularly economical.

But would I be investing today if I no longer owned stocks? I would probably consider that option, yes. Large engine flight hours returned to 100% of pre-pandemic levels in the first four months of 2024 and may raise further in the second half.

Meanwhile, the company remains on track to achieve its medium-term (FY27) target of £2.5-2.8 billion in operating profit. Currently, all three major rating agencies have a “positive” outlook.

That’s why I’m more than cheerful to continue this collaboration while looking for other opportunities. Speaking of which, Airbus stock might be worth my attention right now…