Airbus warns of 50% fall in aircraft orders
By Kevin Done in Toulouse
Published: January 16 2008 22:01 | Last updated: January 16 2008 22:01
Orders for new commercial aircraft are expected to fall by more than 50 per cent in 2008, warned John Leahy, Airbus commercial director, on Wednesday.
While he claimed that the peak in the global ordering cycle passed last year, Mr Leahy said the peak in deliveries would probably be reached between 2010 and 2012. Airbus and its US rival Boeing are straining to increase output to cope with the record order backlogs of the last three years.
Airbus and Boeing booked record orders in 2007. The US group was ahead in net orders and Airbus still marginally in the lead in the volume of deliveries.
Airbus remained heavily in loss for the second successive year, however, chiefly because of the costly delays in its A380 superjumbo and A400M military transport aircraft programmes.
Its profitability has been undermined by the fall of the US dollar against the euro. Tom Enders, chief executive, warned again on Wednesday that the weak dollar threatened the existence of Airbus in the long term. Further substantial cost cuts and restructuring were being planned from 2011, in addition to current programmes to save €2.1bn ($3.1bn) by 2010. Savings of close to €500m had been achieved in 2007.
The forecast of a sharp decline in order flows came as Boeing confirmed on Wednesday it was facing further embarrassing delays in the first deliveries of its 787 Dreamliner, its new range of long-range, 250-300 seat jets.
Scott Carson, chief executive of Boeing Commercial Airplanes, said the first flight of the 787 had been put back from March to the end of June, the third delay from the original plan to stage the first flight in August 2007.
Boeing said on Wednesday that first deliveries, once planned for May this year and then delayed to November or December, would be pushed into “early 2009”.
It said it did not expect the financial impact of the further delays to be “significant” in 2008, but that it would not be able to provide financial guidance for 2009 until April, when it issues its first quarter 2007 results.
It had previously planned a highly ambitious 109 deliveries in 2009.
Copyright The Financial Times Limited 2008
By Kevin Done in Toulouse
Published: January 16 2008 22:01 | Last updated: January 16 2008 22:01
Orders for new commercial aircraft are expected to fall by more than 50 per cent in 2008, warned John Leahy, Airbus commercial director, on Wednesday.
While he claimed that the peak in the global ordering cycle passed last year, Mr Leahy said the peak in deliveries would probably be reached between 2010 and 2012. Airbus and its US rival Boeing are straining to increase output to cope with the record order backlogs of the last three years.
Airbus and Boeing booked record orders in 2007. The US group was ahead in net orders and Airbus still marginally in the lead in the volume of deliveries.
Airbus remained heavily in loss for the second successive year, however, chiefly because of the costly delays in its A380 superjumbo and A400M military transport aircraft programmes.
Its profitability has been undermined by the fall of the US dollar against the euro. Tom Enders, chief executive, warned again on Wednesday that the weak dollar threatened the existence of Airbus in the long term. Further substantial cost cuts and restructuring were being planned from 2011, in addition to current programmes to save €2.1bn ($3.1bn) by 2010. Savings of close to €500m had been achieved in 2007.
The forecast of a sharp decline in order flows came as Boeing confirmed on Wednesday it was facing further embarrassing delays in the first deliveries of its 787 Dreamliner, its new range of long-range, 250-300 seat jets.
Scott Carson, chief executive of Boeing Commercial Airplanes, said the first flight of the 787 had been put back from March to the end of June, the third delay from the original plan to stage the first flight in August 2007.
Boeing said on Wednesday that first deliveries, once planned for May this year and then delayed to November or December, would be pushed into “early 2009”.
It said it did not expect the financial impact of the further delays to be “significant” in 2008, but that it would not be able to provide financial guidance for 2009 until April, when it issues its first quarter 2007 results.
It had previously planned a highly ambitious 109 deliveries in 2009.
Copyright The Financial Times Limited 2008
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