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
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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
B787 problems force A330 freighter delay
Ongoing production delays of Boeing's new 787 Dreamliner passenger aircraft is resulting in customers looking to Airbus passenger aircraft as a replacement which is forcing Airbus to postpone production of its freighters. Setbacks in technical development and an eight-week strike by machinists that ended only in November, has pushed delivery of the 787 to two years behind schedule, costing Boeing an estimated US$2 billion. But for carriers still needing passenger capacity despite the tough … [Read more...] about B787 problems force A330 freighter delay
Airbus/Avic labour over Harbin composites
Airbus has said it is close to an agreement with China's Avic's Harbin Aircraft to set up a joint composite-components plant in China. Technology transfer has been a sticking point in the negotiations from the beginning, according to Chinese media reports that the talks have been deadlocked. That issue now seems to have been overcome, following comments from the chief of Airbus's Chinese operations, Laurence Barron, who said the talks "are ongoing normally and are nearing completion." The degree … [Read more...] about Airbus/Avic labour over Harbin composites
Europe & CIS : Airbus will deliver 12 more A380s this year
Airbus will meet its target of delivering 12 A380 super jumbo aircraft this year, the company’s chief executive pledged recently, brushing aside reports that manufacturing and engineering difficulties had again put the project behind schedule.The 525-seat, A-380 has been plagued by delays due to missteps, technical setbacks, communication failures and financial improprieties that have tarnished Airbus’ image. The first in a series of costly delays was announced in June 2005. In May, … [Read more...] about Europe & CIS : Airbus will deliver 12 more A380s this year
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Airbus, owned by Franco German EADS, is to double the amount of vendor financing it offers to about US$2.64 billion next year, the Financial Times reported. The financing is aimed at supporting commercial aircraft sales and maintaining deliveries as its customers struggle to obtain funding from traditional sources. The paper quotes an unnamed aviation banker who says the number of institutions off ering finance for new commercial jet deliveries had fallen by between a half and two thirds from … [Read more...] about Airbus
