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Die Welt Newspaper: Airbus Sees 2020/2021 Deliveries 40% Below Original Estimates

Speaking at the WELT discussion, Airbus Group N.V. (EADSF.PK,EADSY.PK) Chief Executive Officer Guillaume Faury said the company assumes that production and deliveries for the next two years will be 40 percent below prior estimates. Volume levels are anticipated to hit the previous numbers by 2025, at the earliest.

In April, Airbus reduced commercial aircraft production by a third citing lower demand due to the Covid-19 pandemic. Production of A320 narrowbody aircraft was curtailed to 40 per month, from original production of 60 per month. Reportedly, the company now expects its A320 fleet to gradually raise production from 2022/2023.

As per media reports, Airbus CEO has already informed its employees that the company's survival is at stake without any immediate action, which may include major job cuts.

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