Airbus SE to invest up to €1 billion in A220 passenger jet program this year


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Airbus SE to invest up to €1 billion in A220 passenger jet program this year

The Leiden, Netherlands-based European flagship aviation industry megalith, Airbus SE, which had snatched the aviation industry crown from Boeing Co. last year and still remained at the centrepiece of an aircraft subsidy dispute that allowed the United States to impose punitive levies on Europe-made goods later last year, had been mulling an option to lay off a total between €500 million and €1 billion in to its A220 passenger jet program this year, Airbus SE Chief Executive Guillaume Faury said at the planemaker’s French A220 factory in Mirabel on Thursday, the 20th of February 2020, marking up a remarkable attempt to fill up the voids of Boeing Co.’s 737 MAX passenger jets amid growing uncertainties regarding grounded 737 MAX’s recertification process.

Besides, as the European planemaker has been looking to capitalize on the US-based planemaker Boeing Co.’s weakness that managed to deliver only 54 jets last year, earlier this month, the European aviation industry Goliath had raised its stake in to the A220 program to 75 per cent from a prior 50.1 per cent, while the Airbus SE move to augment its stake in to Airbus Canada that oversees its A220 program was followed by another Airbus move to partner up with the Quebec province government to purchase 33.5 per cent stake of Canadian business jet manufacturer Bombardier.