SAFRY - Airbus flies high after unveiling new production goals

Airbus ([[EADSF]], [[EADSY]]) +6.1% in Paris trading after telling suppliers to prepare for sharply higher production rates, betting that air travel and jet demand will recover more quickly than expected.The European plane maker confirms plans to raise production of its A320 family of aircraft from the current rate of 40 jets per month - a third lower than when the pandemic hit in early 2020 - to 45 per month by the end of this year.Then it expects to ramp up to a rate of 64 jets per month by Q2 2023 and raise it to 70 by Q1 2024 and even as high as 75 on a monthly basis by 2025.The new rate plan for the A320neo is "markedly higher" than previous expectations, says Jefferies aerospace analyst Sandy Morris.Shares of Rolls-Royce (RYCEY) and other Airbus suppliers including Safran (SAFRY) and MTU Aero Engines (MTUAY) also trade higher.Shares of Boeing (BA)

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Airbus flies high after unveiling new production goals