As widely expected, Airbus has announced the first production cuts in response to the deepening recession which has sent the global aviation market into a tailspin. A growing number of airlines are seeking to defer or cancel aircraft deliveries, as they are forced to cut capacity to try to match falling demand for air travel and air cargo. Airbus and its rival Boeing are finding their record order backlogs no longer offer protection against the impact of the global recession, which is forcing … [Read more...] about Airbus cuts production as global traffic plummets
Airbus
ILFC boss forecasts airframe production cuts
ILFC boss forecasts airframe production cuts International Lease Finance Corp (ILFC) chairman and CEO Steven Udvar-Hazy has projected that both Airbus and Boeing will cut production over the next two years by as much as 30-35 per cent. Airbus currently plans to produce close to 500 aircraft this year, while Boeing's target is 480-485 units, but just last week Airbus revealed that it had 12 order cancellations in January - three A318s, two A319s, three A320s and four A321s - while booking just … [Read more...] about ILFC boss forecasts airframe production cuts
Airbus tops Boeing deliveries in ’08 but predicts soft ’09
European aircraft maker Airbus once again took top spot in global airliner production for the sixth year running in 2008, with a 7 per cent rise in deliveries, to a record 483 planes. Deliveries comprised 386 A320 family aircraft, 85 A330s/A340s and 12 A380s. Its US rival, Boeing, delivered 375 planes in 2008 after a machinists' strike halted commercial aircraft production for 58 days. Airbus booked 777 net aircraft orders in 2008, down from 900 after 123 cancellations, topping Boeing's 662 net … [Read more...] about Airbus tops Boeing deliveries in ’08 but predicts soft ’09
Airbus tops Boeing deliveries in '08 but predicts soft '09
European aircraft maker Airbus once again took top spot in global airliner production for the sixth year running in 2008, with a 7 per cent rise in deliveries, to a record 483 planes. Deliveries comprised 386 A320 family aircraft, 85 A330s/A340s and 12 A380s. Its US rival, Boeing, delivered 375 planes in 2008 after a machinists' strike halted commercial aircraft production for 58 days. Airbus booked 777 net aircraft orders in 2008, down from 900 after 123 cancellations, topping Boeing's 662 net … [Read more...] about Airbus tops Boeing deliveries in '08 but predicts soft '09
EADS drops US acquisition to save money
European aerospace group EADS said it had abandoned a "significant" acquisition in the US in order to conserve cash and support Airbus plane sales to crisis-hit airlines. The Airbus parent company is under pressure to offer financing to buyers to ensure they honour contracts. Both Airbus and rival Boeing saw new plane business roughly halve last year after a record 2007 as airlines faced first a record spike in oil prices and then a slump in passenger and cargo demand. "We want to protect cash … [Read more...] about EADS drops US acquisition to save money
Thai Airways delays Airbus payment
Thai Airways International said Tuesday it had reached an agreement with Airbus to postpone the first payment for six A330 aircraft to be delivered in 2009 after being hit by the Thai airport closures and global economic crisis, according to Reuters. The Thai carrier had ordered eight A330 aircraft with six of them will be delivered this year, with the first due in April. The delivery of six A380 superjumbos is still on track for December 2010. The first payment will be postponed to April from … [Read more...] about Thai Airways delays Airbus payment