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6/29, 8:15 AM (Source: TeleTrader)
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Airbus CEO: Deliveries to fall 40% in next 2 years

Airbus' airplane deliveries will drop 40% compared to the end of 2019 over the next two years, CEO Guillaume Faury told Die Welt in an interview released on Monday. However, he noted the situation is improving compared to April when production was down 80%.

Faury commented that he sees pre-coronavirus pandemic volumes returning by 2025 and stressed that demand for the A320 family of aircraft is increasing, meaning that production will likely rise starting from 2022/2023. However, he added that large-scale airplane demand would have a harder time returning to pre-crisis levels.

The CEO stated that because business was lost "overnight," it is likely some jobs will have to be cut. However, he refused to give any specifications on job losses as talks as negotiations with employee representatives are yet to take place. Earlier, speculations indicated that up to 15,000 jobs could be lost at Airbus as aviation remains one of the worst-hit industries by the COVID-19 pandemic.

Breaking the News / VP