European aircraft maker Airbus is planning to ramp up production of its A320, reports Asian Lite news
The company benefited from the strong dollar and growing sales across all its products.
Airbus plans to increase production of its A320 to 60 a month in 2019, from 42 now, capitalising on growing sales. Shares in Airbus rose 4.6% in early trading following the news, says a BBC news report.
The company’s order intake increased 42% in the first nine months of 2015 compared with a year earlier. Airbus did €100bn in sales of commercial aircraft and €4bn of helicopters sales.
The firm also announced a €1bn share buy back to be completed by mid-2016.
Airbus said the increased production of A320s would help off set some of the issues it has had delivering other aircraft.
In a statement, chief executive Tom Enders said “We are strongly focused on programme execution given our key operational challenges with the A350 and A400M ram-ups.”
Airbus has struggled to keep up with demand for its A350. Both the A350, and the A400M military aircraft, have carbon fibre structures that improve fuel efficiency.