Qatar Airways interested in Bomberdier's new CSeries - Aviation suppliers share wrap
European and US markets were sharply lower yesterday on worries over the fallout from Greek debt, and aviation suppliers shares were not spared the sell-off.
- European and US markets experienced a sharp decline due to concerns about Greek debt, impacting aviation suppliers' shares.
- AAR Corp and B/E Aerospace were among the most heavily affected, with their shares dropping by 7.1% and 6% respectively.
- Aircraft leasing companies, including Aircastle, Aercap, and Air Partner, also saw significant drops in their share prices.
- Bombardier's shares traded down 1.7% despite Qatar Airways expressing interest in purchasing its new CSeries aircraft.
- Qatar Airways plans to accelerate B787 deliveries in 2011, increasing the number of aircraft from two to six.
- For more detailed information on Qatar Airways' fleet developments, refer to The Monthly Essential Middle East.
Most heavily affected was AAR Corp, down 7.1%, and B/E Aerospace, down 6%. Aircraft leasing companies showed their sensitivity to market conditions again, with Aircastle, Aercap and Air Partner all dropping significantly.
Bombardier traded down 1.7%, despite more news that Qatar Airways is interested in its new CSeries aircraft. The Middle East carrier is looking at purchasing 20-30 aircraft and now hopes to conclude a deal before the Jul-2010 Farnborough Air Show. Some of the aircraft could reportedly go to the carrier's new corporate jet unit, Qatar Executive. Qatar Executive was launched in Jun-2009 and operates a fleet of three smaller Bombardier business jets.
Qatar Airways has also announced it will accelerate B787 deliveries in 2011, from two to six aircraft. See the latest edition of The Monthly Essential Middle East for detailed information on Qatar Airways' latest fleet developments.
Selected Aviation suppliers' daily share price movements (% change): 04-May-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance