Airbus SE slashed its aircraft output by a third in a stark concession to the coronavirus pandemic thats upended the aviation industry.
The world’ s biggest commercial aircraft manufacturer now plans to produce about 48 planes a month across its A320, A330 and A350 programs, it said Wednesday in a statement. It had gone into the year with a goal of handing over about 880 planes, or an average of 73 per month.
The rapid spread of the virus has caused unprecedented dislocation in the aviation market, with planes grounded worldwide and cash-strapped airlines deferring jet deliveries while seeking bailouts to survive. The demand drop, along with parts shortages and health concerns, has forced Airbus and its United States (US) rival Boeing Co. to pause production at some plants while sizing up the longer-term damage.
