EADS CEO sees aircraft orders struggling in 2010 and 2011
EADS CEO, Louis Gallois, stated the commercial jet market is “not extremely active”, but is not “dead”, and its Airbus subsidiary will struggle to maintain orders in 2010 and 2011, due to the effect of weakened traffic on airline balance sheets (Bloomberg, 01-Sep-2009). However, planning beyond 1Q2010 “remains difficult”. Airbus has taken 140 gross and 118 net orders for the year, while Boeing has taken 150 gross and 61 net orders.
EADS: “The market isn’t dead, we have some campaigns, but it’s not extremely active, that’s clear. It’s not like two or three years ago. In the beginning of a crisis, airlines try to preserve orders, time schedules for deliveries because they don’t want to change their planning -- they want to keep an edge against competition. At the end of the crisis, sometimes, they have to take difficult decisions, they are increasingly short of money. Certainly we are interest in orders for securing our future, but above all we’re interested in them because it’s a sign that the crisis is behind us,” Louis Gallois, CEO. Bloomberg, 01-Sep-2009.