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Middle East unrest may cost Airbus 60 orders

12-Apr-2011

The unrest in the Middle East and North Africa may cost Airbus as many as 60 orders this year, as airlines in the region delay acquisitions and offset deliveries to deal with the effect of the crisis. Airbus President Middle East, Habib Fekih, estimated that the manufacturer will take 90-100 orders in the region this year, as opposed to the 150 orders it had expected.

Shares in EADS, parent of Airbus, were down 0.1% on Monday.

Curtiss-Wright Corporation completed its purchase of the assets of BASF's Surface Technologies business from BASF Corporation. The Surface Technologies business is a supplier of thermal spray coatings for aerospace and power generation markets, and it will become part of Curtiss-Wright's Metal Treatment segment. BASF's Surface Technologies business generated sales of approximately USD29 million in 2010 and has approximately 150 employees at its three operating facilities.

Aerospace shares had a quiet day on Monday, with most markets weaker. Shares in simulator manufacturer CAE were down 1.8%, while Safran, MTU Aero Engines, Bombardier and Zodiac Aerospace all fell 1.7%. GKN Aerospace shares rose 1.1%.

Selected Aerospace daily share price movements (% change): 11-Apr-2011


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