Airbus reports lower Q2 profit, trims 2020 production target

By The Associated Press

Airbus said net income plunged in the second quarter and warned that supply chain challenges were leading it scale back production targets for its commercial aircraft. Airbus said it now expects to deliver 700 aircraft this year, down from a target of 720 aircraft announced in May. Over the long term, the company still expects to produce 75 A320 per month in 2025, but it is now targeting a monthly rate of 65 in early 2024, about six months later than previously planned. Guillaume Faury, Airbus CEO, said the “geopolitical and economic situation” is creating “further uncertainties for the industry,” although customer demand remains “strong.”