Airbus will boost the production of its jets starting July as air travel rebounds in the world’s two biggest economies, according to Reuters.
- Airbus will raise the production of single-aisle medium-haul jets to 41 a month in the third quarter from the current rate of 40 a month.
- Production will be increased further to 45 a month in the fourth quarter, but still down from 60 pre-coronavirus disease 2019.
- The company is also considering ramping up production even more in 2022 and 2023, depending on supplier capacity.
- Chief Executive Officer Guillaume Faury said the balance of risks is shifting from demand to supply chain.
- Faury said he remains cautious due to the “lack of coordination” in quarantine measures in Europe.
- The Airbus chief said the company has yet to see a direct impact from the second wave in India, but he also said the market is an “area of great concern.”
- Operating profit rose 147% to 694 million euros or $841.6 million in the first quarter. However, the revenue fell 2% to 10.46 billion euros.
AIR: EPA is up 1.45%.