Airbus says larger A220 jetliner makes sense at the right time

Europe's Airbus on Friday gave its strongest hint yet that it plans to launch a larger version of its 110- to 130-seat A220 passenger jet, vowing to act at just the right time.

A stretched version of the light aircraft designed in Canada makes a lot of sense, Chief Executive Guillaume Faury told investors, "but we don't want to act too soon." The A220 was developed by Canada's Bombardier (OTC:BDRBF) in a bid to enter the mainstream segment of the jet market but struggled to keep pace with the investments needed to challenge Airbus and US rival Boeing (NYSE:BA) and Bombardier sold the project to Airbus in 2018. The company also faced higher-than-expected costs on the loss-making program, but Chief Financial Officer Dominik Asam told investors they were on track to break even by the middle of the decade. Asam also confirmed production forecasts for Airbus' larger A320neo jets. On Wednesday, Airbus reported that it was easing pressure on suppliers to meet an ultimate target of 75 planes a month by 2025 but was sticking to key targets for now. Both executives spoke at the company's first official Capital Markets Day for investors in four years. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!