SAFRY - Airbus reaches engine supply deal with Safran ahead of decision on A320 targets

Airbus (OTCPK:EADSY) (OTCPK:EADSF) may be preparing to increase production targets for its best-selling A320 jets, as turbine supplier Safran (OTCPK:SAFRY) said on Friday it reached an 18-month extension to key contracts with the European planemaker. Safran (OTCPK:SAFRY) CEO Olivier Andries did not provide specifics for the number of engines it agreed to build together with CFM International partner GE, but said it was equivalent to levels committed before COVID-19. Airbus (OTCPK:EADSY) has been in a year-long standoff with engine makers that have pushed back against quickly raising A320 build rates as travel recovered from the pandemic. CEO Guillaume Faury this week reaffirmed plans to raise A320-family monthly production to 65 by summer 2023. The planemaker has said it aims to take a decision by the middle of this tear on whether to move forward with plans to raise monthly output to 70 in Q1 2024 and as high as 75 by

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Airbus reaches engine supply deal with Safran ahead of decision on A320 targets