Airbus plans on investing between $539 to 1.08 billion in A220 passenger jet program in 2020

In a statement, the chief executive officer of Airbus SE said, the planemaker plans on investing between $539 million-$1.08 billion (500 million euros and 1 billion euros) in 2020 on its A220 passenger jet program.

Earlier in February, Airbus had raised its stake in the program, known as Airbus Canada, to 75%, up from 50.1%, following a team up with the government of Quebec to buy Bombardier’s 33.5% stake.

Following the deal, in which Bombardier exited the civil aviation industry, Airbus position in the industry got further consolidated vis-a-vis its U.S. rival Boeing Co.

The A220, previously known as the CSeries, is a 110-130 seater aircraft, a little smaller than Airbus’s mainstay A320 jet.

“Airbus has been ramping up production of the A220 towards its maximum monthly capacity rate of 10 at its facility in Mirabel and to a monthly rate of four in Mobile, Alabama, targets it hopes to reach by the middle of this decade”, said a Reuter’s report.

Following the levying of tariffs by the Trump Administation on jets produced in the U.S., Airbus has focussed on manufacturing in the United States.

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