3-May-2010 11:47 AM

Boeing reports fewer airlines seek financing

Boeing reports the number of airlines seeking the company’s financing unit has fallen as airlines move to other financing sources, including equity and bond markets (Arabian Business, 02-May-2010). Boeing estimates it will only need to provide USD500 million in financing in 2010, compared with USD800 million in 2009.

Boeing: “Airlines are finding more and more ways to raise the financing other than coming to Boeing. Airlines have been able to raise money in the equity market [and] in the bond market. Banks are still open for business to finance airplanes and frankly airlines finance a lot of airplanes by paying cash and some of the airlines have been making a lot of money rather than going to the debt market," Randy Tinseth, VP of marketing. Source: Arabian Business, 02-May-2010.