Airbus and Boeing down on pessimistic 2009 forecast
Airbus parent, EADS, saw its share price drop 6.1% yesterday (11-May-09), after Chief Commercial Officer, John Leahy, stated that the manufacturer is unlikely to reach its target of 300-400 orders this year. Mr Leahy commented that 2009 would be a “slow year” for the aircraft manufacturer. Airbus has booked just 30 orders (after cancellations) in the first four months of the year.
Chief rival, Boeing, meanwhile dropped 2.4%, and Embraer fell by 5.6%, as Mr Leahy’s pessimistic forecast dented market sentiment in the aerospace manufacturing sector. MTU Aero Engines, Rolls Royce, BE Aerospace and Rockwell Collins all reported share price falls.
Meanwhile, Hong Kong Aircraft Engineering Company (HAECO) shares surged on reports that Cathay Pacific may have found for all or some of its 27% stake. HAECO’s share price has increased by more than one third over the past three days.
Selected aviation suppliers' daily share price movements (% change): 11-May-09