Airbus sets record production target for A320 family
Airbus has bolstered plans to boost production of its best-selling narrow-body aircraft by 50% from current levels to a record 75 planes a month by 2025 as it reported better-than-expected quarterly results on Wednesday.
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The world’s largest aircraft maker is already restoring production of in-demand single-aisle models as pandemic travel restrictions ease, with a tentative target of 65 A320 family planes a month by the summer of 2023, up from 50 now.
On Wednesday, Airbus said it would go further and continue to increase monthly production to 75 a month by mid-decade, cementing proposals tentatively aired last year.
Some experts believe that widespread shortages in global supply chains will disrupt production increases in the short term, while aircraft financiers meeting for annual conferences in Dublin fear that high production could depress existing assets, Reuters reported.
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Airbus CEO Guillaume Faury said in a statement that the global aerospace industry would benefit from the production increase, which leaves the European manufacturer well ahead of plans announced by rival Boeing.
Airbus said its benchmark adjusted operating profit rose 82% to €1.26 billion in the first quarter, thanks to higher deliveries and a one-off change in pension metrics, offset by the impact of sanctions against Russia over the war in Ukraine.
Revenues rose 15% to €12 billion, and Airbus kept its financial targets for the year unchanged.
Meanwhile, it confirmed a delay in its new A321XLR until early 2024 as it holds talks with regulators.
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