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BUSINESS: Boeing, Airbus See Aircraft Rebound

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posted on Jul, 19 2004 @ 03:20 PM
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The civil aviation industry sunk into its worst financial crisis in 2001, due to a global economic downturn, armed conflict, terrorism threats and epidemics. Estimates by The International Civil Aviation Organization indicate that the sector lost 6.6 billion dollars last year.
At the end of last year a recovery was detected, which saw a 19.4 percent increase in traffic from January to May 2004 according to the International Air Transport Association, has prompted carriers to re-activate some of the planes parked in the desert and to acquire newer models that consume substantially less fuel than their predecessors.
 



Forbes/com

Demand for new passenger and freight aircraft is rebounding after an unprecedented global downturn and in spite of chronically high fuel costs, U.S. manufacturer Boeing Co. and its European rival Airbus said Monday at Britain's Farnborough International Air Show.

Boeing announced a $2.96 billion sale of 777-300ER planes to Emirates Airline, while Airbus predicted it would exceed its planned delivery of new planes this year. In a sign of their intense competition, executives for these two titans of civil aviation defended their respective strategies for future growth and traded accusations about government subsidies.

Embraer, a Brazilian maker of regional jets, announced three sales of its own.


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Airbus set to boost production by a half

Airbus, the European aircraft maker, is to create up to 1,000 jobs and boost the planned output of its main family of aircraft by 50 per cent over two years.

The move is a sign of the growing recovery in the civil aviation market after the deep recession of the past three years.


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Related News
High oil prices aiding aircraft makers
Boeing, Airbus square off at Farnborough


[edit on 20-7-2004 by Banshee]




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