Company Watch - Airbus.

Jul 30, 2007

Adria said it has extended contracts with each of its current 18 customers while attracting 11 new customers for Bombardier CRJ and Airbus A320 MRO, including five-year deals with Wizz Air, Air Berlin, Malev Hungarian Airlines, Eurowings and Lufthansa CityLine. With its order for CRJ900s , it will expand its MRO operation and already has signed My Air and Air One to MRO contracts. Jul 26, 2007

US Claims In Airbus Dispute Exaggerated. The United States has "vastly exaggerated" the amount of aid European governments have given aircraft maker Airbus, European Union trade officials said on Monday in a brief given to reporters. "The US is now seeking to argue that the benefit of MSF (member state financing) alone amounts to as much as USD$205 billion and is actively trying to 'sell' this vastly exaggerated amount," the EU said in the brief. "The US magically reaches this 'estimate' by compounding interest on subsidies dating back as far as 1967." Applying the same method, the EU could calculate US support for Boeing at USD$305 billion, instead of the USD$23.7 billion it has actually alleged, the EU said. Jul 24, 2007

Five Airbus specialists were being sent to Brazil on Wednesday to help investigate the crash of an Airbus A320 aircraft that skidded off a runway, leaving all 176 people aboard feared dead and killing at least 15 others on the ground, the company said. Jul 23, 2007

EU, U.S. trade charges of rule-breaking to favor Airbus and Boeing. In competing complaints to the World Trade Organization, the EU and the U.S. have accused each other of providing too much assistance to aerospace companies Boeing and Airbus. Both allege damage to their own industries. Jul 26, 2007

Airbus parent EADS confirmed the one billion euro target on Thursday but said this was "before any impact from the A400M cost assessment". The tactical heavy lifter designed for 7 European NATO nations is now expected to stage its inaugural flight in the summer of 2008, later than the previous target of early 2008. EADS had already announced a three month production delay. "The (A400M) program contains material risks on the overall time schedule, and system providers continue to face challenges that may (imply) late design implications," it said. The EADS figures came after rival Boeing reported a higher-than-expected second-quarter profit and raised its full-year forecasts on Wednesday. Jul 26, 2007

Airbus parent EADS group reiterated its forecast for a low single-digit percentage drop in 2007 sales and "roughly stable" EBIT, while tightening its euro exchange rate assumption to USD$1.35 from USD$1.30. The euro currently stands at USD$1.37. EADS has predicted a "substantial" loss for the second year in a row for Airbus in 2007 but a combined EBIT close to EUR1 billion for the combined helicopters, defense and space businesses. For aircraft orders and deliveries go to http://airguideonline.com/aircraft_orders.htm Jul 26, 2007

Airbus parent EADS said the "risk level on certain key programs" prevented it from raising its other core forecasts despite the stronger operating performance at its biggest unit Airbus. EADS is in the midst of examining the costs of another major Airbus project, the A400M military airlifter, and has run into problems in delivering the NH90 military helicopter on time. Its Eurocopter unit took a EUR105 million euro NH90 charge. Jul 26, 2007

Airbus parent EADS said its cash position had been bolstered by a big harvest of orders at the Paris air show. Airbus bagged a record tally of orders at the June event, triggering a slew of down payments on future deliveries. Full-year cash-flow is now expected to be positive compared with a shortfall of up to EUR1 billion forecast in May. Jul 26, 2007

Airbus Parent EADS said second-quarter earnings before interest and tax fell to EUR278 million from EUR863 million a year earlier. Quarterly sales fell 4 percent to EUR9.509 billion and net profit fell 85 percent to EUR81 million. The figures included a EUR500 million charge for the cost of redesigning and relaunching the Airbus A350 -- now dubbed A350 XWB for "extra wide body" -- to compete with the successful 787 Dreamliner which has strongly boosted Boeing's fortunes. The charge came on top of a restructuring charge of EUR688 million taken in the first quarter as Airbus cuts 10,000 jobs to compensate for the dollar's record weakness against the euro and repair the cost of delays to its A380 superjumbo. For aircraft orders and deliveries go to http://airguideonline.com/aircraft_orders.htm Jul 26, 2007

Airbus Parent EADS Beats Q2 Forecasts, Takes A350 Charge. European aerospace group EADS on Thursday reported a smaller than expected drop in second-quarter earnings while taking a EUR500 million euro charge for the recent redesign of its next Airbus passenger jet. EADS ditched its earlier pessimism over its ability to generate cash in 2007 in the face of a weak dollar but warned of risks to major military projects. Jul 26, 2007

Airbus parent EADS warns of military aircraft delays. Officials at EADS say the Power8 corporate restructuring now under way will save the company an estimated $412 million in 2007, but that delays to two important military projects are a worry. The Eurocopter NH90 military helicopter and the A400M military transport aircraft will both likely be delivered later than anticipated. Jul 26, 2007

British Airways chose IAE V2500s to power eight new A320 family aircraft scheduled for delivery in 2008-10. Engines are worth $136 million at list prices. BA also signed a long-term maintenance agreement with IAE. The airline currently has 67 Airbus narrowbodies, 58 of which are powered by V2500s. Nine are powered by CFMI engines. Jul 23, 2007

China Eastern Airlines said it had agreed to buy 10 Airbus A320 series aircraft from Airbus with a list price of CNY4.64 billion yuan (USD$613 million). The airline said in a statement it would fund the purchase by bank loans or other financial arrangements, and the aircraft are expected to be delivered from March 2011 to June 2012. It gave no further details. In June, China Eastern said it had signed a contract to buy 30 A320 passenger jets from Airbus for less than the CNY13.9 billion (USD$1.74 billion) list price of the planes. Jul 23, 2007

Goodrich will provide asset management services, including component and system maintenance and technical support, on Goodrich-made components and systems onboard 19 Airbus A380s ordered by Singapore Airlines. SIA takes its first A380 in October. Jul 24, 2007

Jetstar Jet In Bali Emergency Landing. A passenger jet operated by Australia's Jetstar with more than 300 people on board had to make an emergency landing on Indonesian island Bali due to engine problems, an airport official said on Monday. The Airbus was traveling from Bangkok to Melbourne when a fault was detected in one of its engines, Denpasar Airport spokesman Munir said. The plane diverted to Denpasar, where it made a successful emergency landing at 04:46 a.m. local time (2046 GMT on Sunday), and the problem was being investigated, the official said. Officials at Jetstar in Bali could not immediately be reached for comment. Jetstar, the low-cost subsidiary of Qantas Airways, has tripled in size since its launch three years ago. The international arm of the carrier currently flies to 10 Asian cities, with plans to add more flights this year. Jul 23, 2007

Jetstar Eyes Major Airbus Order. Qantas Airways' low-cost subsidiary, Jetstar, said on Tuesday it was looking at making a large order for Airbus A320 aircraft to meet its growth plans for Australia and Asia. Jetstar Chief Executive Alan Joyce said the airline needed a "very large" order to meet growth plans from 2009 onwards, particularly in Asia where it has bought a stake in Vietnam's Pacific Airlines. Parent Qantas said in March it had ordered nine additional A320 aircraft for Jetstar, which is also scheduled to take delivery of 15 Boeing 787 planes in 2008. Jul 24, 2007

Qantas Airways' low-cost subsidiary, Jetstar, said on Tuesday it was looking at making a large order for Airbus A320 aircraft to meet its growth plans for Australia and Asia. Jul 24, 2007

Airbus said Friday that "final preparations" are underway for the October delivery of the first A380 to Singapore Airlines. The manufacturer said the aircraft returned to Toulouse after undergoing cabin interior installation in Hamburg. Jul 23, 2007

Focus Of Brazil Air Crash Shifts From Runway. Debate over the cause of Brazil's worst air crash shifted on Thursday from widespread claims of a faulty runway to potential pilot error or failure of the plane's braking systems. Soon after Tuesday's fiery accident at Sao Paulo's Congonhas airport, which killed all 186 people on board and more on the ground, many officials and aviation experts blamed the rain-soaked runway where the TAM Linhas Aereas Airbus A320 skidded before slamming into a fuel station and cargo terminal. Jul 23, 2007

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