By Giulia Petroni

Airbus SE said Thursday that production rates will remain lower for longer due to the current market environment and expects the commercial-aircraft market to return to pre-Covid-19 levels by 2023-2025.

The European plane maker said the new average production rates for its A320 Family aircraft will gradually increase to 43 a month in the third quarter and 45 in the fourth quarter, from the current rate of 40. The company had previously anticipated 47 aircraft a month starting from July.

It also said the monthly production rate for the A220 will increase from four to five aircraft from the end of the first quarter, as previously expected.

Widebody production will remain stable, with monthly production rates of about five for the A350 and two for the A330, postponing a potential increase for the A350, Airbus added.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

January 21, 2021 12:09 ET (17:09 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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