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Boeing pips Airbus on 2007 orders Boeing pips Airbus on 2007 orders
(about 1 hour later)
European plane maker Airbus has conceded defeat to Boeing in the battle for new orders during 2007, but said it had beaten its US rival on deliveries.European plane maker Airbus has conceded defeat to Boeing in the battle for new orders during 2007, but said it had beaten its US rival on deliveries.
Airbus reported 1,341 net new orders of commercial aircraft, 72 less than Boeing. However, Airbus delivered 453 aircraft compared with Boeing's 441.Airbus reported 1,341 net new orders of commercial aircraft, 72 less than Boeing. However, Airbus delivered 453 aircraft compared with Boeing's 441.
The company said that deliveries were at a record, and its main concern was now ensuring it could fill orders.The company said that deliveries were at a record, and its main concern was now ensuring it could fill orders.
A manufacturer receives most of its payment when a plane is delivered.A manufacturer receives most of its payment when a plane is delivered.
Bitter battleBitter battle
Airbus has been through a troubled patch recently with costly production problems affecting its flagship jumbo A380, which made its maiden flight late last year.Airbus has been through a troubled patch recently with costly production problems affecting its flagship jumbo A380, which made its maiden flight late last year.
In addition, its earnings have suffered as a result of the weak US dollar.In addition, its earnings have suffered as a result of the weak US dollar.
Most of Airbus's costs are priced in euros, while its planes are sold in dollars.Most of Airbus's costs are priced in euros, while its planes are sold in dollars.
As a result, its profit margins have been squeezed to such an extent that the company has called the situation life threatening.As a result, its profit margins have been squeezed to such an extent that the company has called the situation life threatening.
The problems forced the company to introduce a cost cutting programme at the beginning of last year, which entailed shedding 10,000 jobs over a four year period.The problems forced the company to introduce a cost cutting programme at the beginning of last year, which entailed shedding 10,000 jobs over a four year period.
Airbus said that in its first year of the scheme it had scaled back costs by 300m euros ($443m; £226.5m), beating its target.Airbus said that in its first year of the scheme it had scaled back costs by 300m euros ($443m; £226.5m), beating its target.
Fight back?Fight back?
The current year will again see fierce competition between Airbus and Boeing as both plane makers try to deliver on production and delivery promises.The current year will again see fierce competition between Airbus and Boeing as both plane makers try to deliver on production and delivery promises.
It has been reported that Boeing will announce further delays to its new 787 Dreamliner jet, while Airbus is struggling to deliver its new mid-sized A350 on schedule. Boeing announced further delays to its new 787 Dreamliner jet on Wednesday, while Airbus is struggling to deliver its new mid-sized A350 on schedule.
For 2008, Airbus chief executive Tom Enders forecast deliveries of 470 aircraft.For 2008, Airbus chief executive Tom Enders forecast deliveries of 470 aircraft.