Airbus is cutting commercial aircraft production by a third citing lower demand due to the Covid-19 pandemic.
"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," said Airbus Chief Executive Officer Guillaume Faury.
The European aerospace giant said it would cut production of its A320 narrowbody aircraft to 40 per month. The company reportedly produces more than 60 A320 aircraft per month.
Production of its larger jets would be cut to six A350s per month and two A330s.
Airbus booked 290 net commercial aircraft orders in the first-quarter of 2020.
The company said it delivered 122 aircraft in the quarter. A further 60 aircraft were produced but remain undelivered due to the evolving pandemic.
The company delivered 36 aircraft in March, down from 55 in February, due to customer deferrals and other factors related to the coronavirus.