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April 8, 2020, 2:09 p.m. EDT

Airbus cuts production rates due to coronavirus

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By Mauro Orru

Airbus SE said Wednesday that it is slashing its production rates by about a third in a bid to adapt to the new market environment shaped by the coronavirus pandemic.

The European plane maker said it would manufacture 40 A320 per month, two A330 per month and six A350 per month under its new production rates.

"Our airline customers are heavily impacted by the Covid-19 crisis. We are actively adapting our production to their new situation and working on operational and financial mitigation measures to face reality," said Chief Executive Guillaume Faury.

Airbus added that it booked 290 net commercial aircraft orders in the first quarter of 2020, delivering 122.

The company said a further 60 planes produced in the quarter are undelivered.

Airbus said it delivered 36 aircraft in March compared with 55 in February, citing requests from customers to defer deliveries.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

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