FARNBOROUGH 2010: Recession over says Airbus’s Leahy

“The recession is definitely over, despite what the doom-mongers say,” declared Airbus COO–customers John Leahy during the airframer’s wrap-up press conference on the last of the trade-only days at Farnbrough 2010.

Sharing the platform with CEO Tom Enders, Leahy reported that Airbus’s firm orderbook for 2010 stood at 261 aircraft with 20 customers, “with a good geographic split”. He recalled the company’s February 2009 summation of the downturn and how Airbus predicted the variety of ways it may play out. “We showed best and worst case scenarios. And right now, the recovery is tracking the best case scenario that Airbus predicted at that time,” Leahy highlighted.

Enders noted that the show had brought orders and commitments for 255 aircraft (133 firm) valued at $28 billion. “The leasing companies are clearly back and we have more in the pipe as far as leasing companies are concerned. They bring much needed liquidity back into the market,” he emphasised.

“As a result of this air show and the trend of previous months, we will set new record for order this year,” Enders continued. “The new target for the year end will now be north of 400 aircraft.”

Asked about a decision on a potential new engine offering for the A320 family, Enders responded, “The business case is convincing, but resources are limited. I’m sure the decision will happen in the coming months.”

Bernie Baldwin, editor, Low-Fare & Regional Airlines/LARAnews.net
Farnborough, UK

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