(Reuters) – Airbus said its production targets are not affected by the war in Ukraine as it sees raw material supplies secured even if Russian exports are embargoed, the Frankfurter Allgemeine Sonntagszeitung newspaper reported on Friday.
The war has not changed Airbus’ targets including single-aisle production of 65 a month by summer 2023 or the group’s ability to source raw materials including the key element titanium, Chief Executive Guillaume Faury told FAS.
“We have expanded warehousing so that we can – if necessary – bridge the time until we can use other sources of supply,” Faury told the newspaper as he warned against imposing an embargo on titanium in the first place.
“It would hardly harm Russia because (titanium) only accounts for a small part of export earnings there. But it would massively damage the entire European aviation industry,” the CEO told FAS.
Imports from Russia make up 50% of the European civil and military plane maker’s titanium supplies.
(Reporting by Zuzanna Szymanska; Editing by Kirsten Donovan)
