November 24, 2008
Airbus said on Monday that aircraft orders this year would not fall by as much as it had originally feared and that it was ready to help customers with financing as they grapple with the credit crisis.
Tom Williams, executive vice-president of programs, told journalists at the European aircraft manufacturer's Filton site in Bristol in western England that Airbus expected total orders for the year to be around 800 against 1,341 last year.
However, he said that was better than Airbus had expected during the middle of last year.
"We thought this year would be slower, so we've done significantly better than we expected," he said.
Williams said the company was not under any illusions about the potential impact the credit crisis could have in terms of airlines canceling or deferring orders but he added that demand was holding up so far.
"Generally speaking, up until now, customers have been anxious to get units into any (manufacturing) slots available," Williams said.
The group had seen evidence of some market softening in September, he said, but manufacturing capacity was full for most programs until the end of 2010.
Airbus was likely to have to help customers finance planned aircraft purchases because they were finding it more difficult to obtain funding, he said, although the industry remained more appealing to financiers than other sectors.
"Financing aircraft is more attractive for financiers and bankers than, say, a shopping mall in the Middle East," he said.
Williams said the group had a total civil aircraft order backlog of about 3,700 aircraft.
British aerospace group GKN is buying the Airbus wing parts manufacturing and assembly operation at Filton for GBP136 million pounds. The site employs about 1,500 people and makes wing parts for the Airbus A320, A330/340, the A380 "superjumbo" and the A400M military transporter.
The acquisition is subject to regulatory approval and is expected to complete on January 5, 2009, Williams said.
(Reuters)
Airbus said on Monday that aircraft orders this year would not fall by as much as it had originally feared and that it was ready to help customers with financing as they grapple with the credit crisis.
Tom Williams, executive vice-president of programs, told journalists at the European aircraft manufacturer's Filton site in Bristol in western England that Airbus expected total orders for the year to be around 800 against 1,341 last year.
However, he said that was better than Airbus had expected during the middle of last year.
"We thought this year would be slower, so we've done significantly better than we expected," he said.
Williams said the company was not under any illusions about the potential impact the credit crisis could have in terms of airlines canceling or deferring orders but he added that demand was holding up so far.
"Generally speaking, up until now, customers have been anxious to get units into any (manufacturing) slots available," Williams said.
The group had seen evidence of some market softening in September, he said, but manufacturing capacity was full for most programs until the end of 2010.
Airbus was likely to have to help customers finance planned aircraft purchases because they were finding it more difficult to obtain funding, he said, although the industry remained more appealing to financiers than other sectors.
"Financing aircraft is more attractive for financiers and bankers than, say, a shopping mall in the Middle East," he said.
Williams said the group had a total civil aircraft order backlog of about 3,700 aircraft.
British aerospace group GKN is buying the Airbus wing parts manufacturing and assembly operation at Filton for GBP136 million pounds. The site employs about 1,500 people and makes wing parts for the Airbus A320, A330/340, the A380 "superjumbo" and the A400M military transporter.
The acquisition is subject to regulatory approval and is expected to complete on January 5, 2009, Williams said.
(Reuters)