Friday, October 17, 2008
Hyderabad: The downturn in the aviation sector does not seem to have hurt Seattle-headquartered aircraft manufacturer Boeing, even as its rival France-based Airbus plans to halt production for the time being. The manufacturer of the iconic 747 is firm on its earlier forecast of long-term demand for aircraft in the country. Boeing also projected that India would place orders for 1,001 aircraft valued at $105 billion in the next 20 years. The company on Thursday said that the current slowdown is temporary and will not continue for a long time.
“Our earlier forecast for India stands firm. In fact, so far no airline has formally asked us for either cancellation of the previous order or deferment of their deliveries. The current downturn in the sector is temporary and may not prolong for more than 6 to 9 months,” Boeing V-P (sales) Dinesh Keskar said here at India Aviation 2008.
However, Airbus expects demand for aircraft to slacken all over the world owing to the credit crunch. The company plans to put on hold its production plans till 2009. “We arrived at this conclusion given the global financial turbulence and the present state of the aviation industry,” said Kiran Rao, executive vice-president, marketing and sales, Airbus India.
The European aerospace company has decided reduce the number of A-320s produced a month. Company officials said that they would neither increase nor bring down the production of A330. The company would, however, revisit its production plans at the end of the second quarter in 2009. Aviation is cyclical business. There is bound to be an upswing after the downturn, said an official at the show.
17/10/08 Economic Times
“Our earlier forecast for India stands firm. In fact, so far no airline has formally asked us for either cancellation of the previous order or deferment of their deliveries. The current downturn in the sector is temporary and may not prolong for more than 6 to 9 months,” Boeing V-P (sales) Dinesh Keskar said here at India Aviation 2008.
However, Airbus expects demand for aircraft to slacken all over the world owing to the credit crunch. The company plans to put on hold its production plans till 2009. “We arrived at this conclusion given the global financial turbulence and the present state of the aviation industry,” said Kiran Rao, executive vice-president, marketing and sales, Airbus India.
The European aerospace company has decided reduce the number of A-320s produced a month. Company officials said that they would neither increase nor bring down the production of A330. The company would, however, revisit its production plans at the end of the second quarter in 2009. Aviation is cyclical business. There is bound to be an upswing after the downturn, said an official at the show.
17/10/08 Economic Times
Labels: Airbus, Aircraft Manufacturer, Boeing, Europe, US
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