This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7191478.stm
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
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 battle | Bitter 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. |
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. |
Previous version
1
Next version