Airbus sets higher jet output targets as recovery looms

Europe's Airbus set out sweeping goals on Thursday to expand production of jetliners as the aviation industry recovers from the coronavirus crisis.

It confirmed plans to increase A320neo production by more than 10% to 45 airplanes a month by the end of this year, and gave suppliers a firm new target of 64 a month by second-quarter 2023.

It is also exploring A320neo rates as high as 75 by 2025 and expects to boost monthly production of the larger A350 to six by the autumn of 2022, the planemaker said in a statement.