Airbus to cut back production

Aerospace company Airbus is cutting back production, it was announced today.

However, the Toulouse-based company said it did not foresee “any impact on employment at this point”.

Airbus said it was cutting production of its A320 family of planes, which includes the A318, A319, and A321, from 36 a month to 34 from October 2009.

Also, production rates of the A330/A340 family will stay at the current level of 8.5 a month, and not be increased further as previously planned.

Airbus chief executive Thomas Enders said: “We monitor the market continuously and try to be proactive. Flexibility and adaptability are essential in times of crises.

“We reached record production rates in late 2008, but now we see a drop of air traffic in most regions. Many airlines are taking capacity out of the market. I do not exclude further production cuts if the need arises.”