EADS CFO Hans Peter Ring stated that the company has attempted to persuade some customers to purchase Airbus aircraft with euro instead of US dollars, but has not yet been successful on a “relevant scale” (Dow Jones, 29-Mar-2011). The manufacturer has had some “small” sales in euros. Aircraft have historically been priced in US dollars, a problem for Airbus, which has the majority of its production costs denominated in euros. The time lag between an order and delivery and payment for an aircraft can exceed six years, during which time foreign exchange rates can vary significantly.
30-Mar-2011 11:59 AM