Airbus: Trade Tensions Are Prompting Buyers to Remain Unnamed
18 Luglio 2018 - 11:25AM
Dow Jones News
By Robert Wall
FARNBOROUGH, England--Airbus SE (AIR.FR) is announcing an
unusually high number of orders from undisclosed buyers because
customers are concerned about global trade tensions, the European
aerospace giant's Chief Commercial Officer Eric Schulz said
Wednesday.
Customers have asked to remain unnamed in order to not "fuel the
fire" on trade, Mr. Schulz said. That anxiety is particularly
pronounced in Asia, he told investors.
Airbus kicked off the third day of this week's Farnborough
International Air Show with the announcement of a deal for six
A330-900 widebody planes from an undisclosed customer. More than
half of the company's Farnborough order announcements so far are
from buyers which aren't publicly identified.
Aerospace companies are gathered at Farnborough amid heightened
trade tensions between the U.S. and China, as well as among
Washington and a number of the U.S.'s traditionally close trading
allies, including the European Union, Mexico and Canada. Industry
officials said they are not, yet, seeing an impact on demand for
travel or planes, but are watching anxiously the trade tension
which could dent demand.
Mr. Schulz said he expected to end Farnborough International Air
Show with around 750 aircraft deals. Strong demand, particularly
for single-aisle planes, could allow Airbus to charge more, Mr.
Schulz said.
Airbus Chief Executive Tom Enders said Wednesday that the
company faced "a hell of a race" to meet its target of delivering
around 800 jetliners this year, after supplier bottlenecks caused
handovers to lag in the first six months.
Mr. Enders told investors that the company was seeing
encouraging signs that deliveries were stepping up, with 80 plane
deliveries last month. In the first six months, the company
delivered only 303 jetliners against a full-year target of 800.
Airbus this year had more than 100 planes built ready for
delivery but for absent engines. "We are now trying to equip all
these aircraft with engines and get them off the tarmac," Mr.
Enders said. "The engine makers are catching up," he said.
Airbus single-aisle planes, those most affected by delays, are
powered either by engines from CFM International, a joint venture
of General Electric Co. (GE) and SAFRAN SA (SAF.FR), and Pratt
& Whitney, a unit of United Technologies Corp. (UTX).
Mr. Schulz also said he was targeting orders for more A380
superjumbos this year.
Airbus has had to cut production plans for the A380 to about six
planes a year in 2020 because of slack demand. Chief Financial
Officer Harald Wilhelm said the program would lose money at that
output level, but that efforts to cut costs to produce the plane
would continue.
Write to Robert Wall at robert.wall@wsj.com
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(END) Dow Jones Newswires
July 18, 2018 05:10 ET (09:10 GMT)
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