Airbus Won't Increase Production Rates Until at Least 2022

Airbus (OTC: EADSY) expects to keep new plane production rates low through at least 2022 as it braces for a prolonged impact from the COVID-19 pandemic.

Both Airbus and Boeing (NYSE: BA) have seen pressure on their order books as the pandemic has cut into travel demand and has caused airlines to scale back flying and look to cut costs. With the global aviation industry taking on billions in new debt to survive the pandemic, many carriers formerly in expansion-mode will instead be using funds to pay down loans for years to come.

Image source: Airbus.

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Source Fool.com