Airbus slashes jet output to tackle coronavirus crisis [Reuters]
Boeing Company (The) (BA)
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Source: Reuters
Airbus slashes jet output to tackle coronavirus crisis PARIS (Reuters) - Airbus ( AIR.PA ) announced plans on Wednesday to cut jetliner production across the board after the coronavirus epidemic triggered aviation’s worst industrial crisis and drastically reduced deliveries to cash-starved airlines. In its largest-ever production adjustment, the European manufacturer said it was reducing output of its best-selling A320 narrow-body family by a third to 40 aircraft a month. It also cut production of larger wide-body jets with the A350 falling by about 40% to six aircraft a month, and the A330 family down by more than 40% to two aircraft a month, based on the most recently published Airbus production figures. Announcing a parallel slowdown in new investments, Chief Executive Guillaume Faury said the cuts reflected the “new realities” of airlines, whose industry association warned this week of the loss of 25 million jobs dependent on air transport. The move, which Airbus said represente
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