Airbus Expects More Support For Plane Buys
February 23, 2009
Airbus's Middle East president said France's move to provide USD$6.3 billion in aid to support plane purchases was not enough and he expected other European countries to follow.
France last month said it would provide up to EUR5 billion euros (USD$6.29 billion) to support plane purchases, one of France's biggest export earners.
"Of course it is not enough," Habib Fekih said at an aviation conference. "We are expecting some of the other governments to put similar packages together."
Germany was considering steps similar to those announced by France that would help Airbus customers gain access to bank credit for their plane purchases, a senior German official said on January 27.
"I think Germany will follow France, but Britain I don't know," Fekih said.
So far, Airbus has received no cancellations this year from Middle East carriers for previous plane purchases, Fekih added.
Gulf carriers, including Emirates, had placed billion-dollar orders for planes from Airbus and Boeing, banking on regional economic growth to boost traffic through the hub linking East Asia, Europe and Africa.
Earlier this month, Dubai-based aircraft leasing firm LCAL slashed its order for Boeing 787 Dreamliners to five plans from 21 due to the global economic crisis.
"The only small risk is of leasing companies... they may have problems placing their aircraft," Fekih said.
