Airbus to reduce production 40% in next two years

Airbus SE expects production and deliveries to be 40% lower than planned over the next two years due to the coronavirus pandemic, Chief Executive Guillaume Faury said in an interview with German newspaper Die Welt, Report informs, citing MarketWatch.

Earlier, the company had planned to reduce production by 30-35%. However, the long-lasting pandemic urged it to revise its plans. It means a cut of thousands of jobs.