AIRBUS FORECASTS "A HORRIBLE YEAR"
European aircraft giant Airbus warned of a "horrible" year ahead, which will see its orders cut in half as the global economic crisis hits the airline industry. Airbus chief Thomas Enders said he expected a sharp drop off in orders, with plane deliveries in 2009 likely to surpass the number of orders for the first time since 2003.
"We all know that 2009 will be a very challenging year for the aeronautics industry. At Airbus we are well prepared and confident," said Enders.
Airbus commercial director John Leahy said the company expected 300 to 400 orders this year, less than half the number won in 2008. Last year, Airbus overtook Boeing with 777 orders and 483 deliveries compared to its rival's 662 orders and 375 deliveries. But the market has changed dramatically as airlines slash capacity to survive the worst global downturn in years.
Singapore Airlines (SIA), one of the world's most profitable airlines, said its passenger load fell 7.5% in December 2008 to give a capacity loading of 79.9%, down 4.4% over last year. "The prevailing global financial turmoil has dampened demand across all route regions, translating to weaker uplifts," said a SIA spokesperson. SIA is one of Airbus's most important customers and the launch airline for the key A380 super-jumbo,