Airbus is now revising their production rates downwards, to adapt to the new coronavirus market environment.
In Q1 2020, Airbus booked 290 net commercial aircraft orders and delivered 122 aircraft. A further 60 aircraft were produced during the quarter, however they remain undelivered due to the evolving COVID-19 pandemic.
36 aircraft were delivered in March across the different aircraft families, down from 55 in February 2020. This reflects customer requests to defer deliveries, as well as other factors related to the ongoing COVID-19 pandemic. This include Turkish Airlines new A350.
The new average production rates going forward have been set as follows:
- 40 A320 family per month
- 2 A330 per month
- 6 A350 per month
This represents a reduction of the pre-coronavirus average rates of roughly one third.
“The impact of this pandemic is unprecedented...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.”Airbus Chief Executive Officer Guillaume Faury
Cancellation And Deferred Orders
Five A350-900s, ordered by Kuwait Airways, have been removed from the backlog, although these aircraft had already been due for cancellation after the airline signed for A330-800neos.
easyJet has agreed with Airbus to delay the delivery of 24 new aircraft. The airline said they would defer the delivery of 10 planes this year, 12 next year and two in 2022.
The airline could also defer another five aircraft orders in 2022, if demand does not pick up again; they also it have the option to delay or cancel another 24 operating leases, due for renewal in the next 16 months.
SaudiGulf Airlines has cancelled an order for 16 Airbus A220-300 aircraft in March of 2020.
Six A350-1000s and four A350-900s from Latin America’s LATAM are part of the cancellation.
Four A330-900s for lessor Avolon have also been cut from Airbus latest order book.
Airbus’ backlog of aircraft, remaining to be delivered as of 31st March, stood at 7,650. Comprised of 6,220 A320 Family aircraft, 529 A220s, 323 A330s, 569 A350 XWBs and nine A380s.