LONDON (ShareCast) - (Sharecast News) - Aerospace and defense company Airbus detailed an aggressive recovery plan for production of its A320neo-family aircraft, telling suppliers to be ready for output to hit a monthly rate of 64 single-aisle panes within the next two years.
Airbus set the "firm rate" target for the second quarter of 2023 and vowed to hike monthly production of the model to 45 by the end of 2021.

The Euronext Paris-listed firm also requested its supply chain adjust operations to allow a further rise to 70 aircraft in 2024 and stated it was even mulling over the idea of raising the figure to 75 by 2025.

However, the group's timeline for recovery in the long-haul sector was still uncertain, stating it intends to lift monthly A350 production from five to six but was vague in regards to the timing, stating only that it would occur by autumn 2022.

A330 production was unchanged from its level of two per month.

As of 0940 BST, Airbus shares were up 6.32% at €103.84 each.

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