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Airbus to cut A330 production rate as ramps up A320

MUNICH, Feb 27 (Reuters) - Aircraft maker Airbus said it would cut the production rate of its A330 widebody jet to six a month from the first quarter of 2016 as it also ramps up production of its top-selling A320 family.

Airbus had already announced last year plans to cut the production rate of A330 jets to nine a month from the fourth quarter of this year as it moves to the new A330neo.

It will increase the production rate for the A320 single-aisles to 50 aircraft per month from the first quarter of 2017, it said on Friday with its annual results.

Airbus currently makes 42 A320 family jets a month and is increasing this to 46 in 2016. Rival Boeing is increasing its 737 production rate to 52 a month in 2018.

A source told Reuters earlier this week Airbus was discussing an increase in A320 production to 50 a month as early as 2017.

(Reporting by Victoria Bryan, Editing by Tim Hepher)