EADS Sees Order Book Under Threat On Rising Oil Prices - ResearchInChina
Date:2008-07-14
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AIRBUS parent European Aeronautic, Defence & Space Co has said as much as one-third of its order book is at risk of deferral or cancellation as spiraling oil prices wipe out airline earnings.
Airbus's revenue is also being hurt by the weakness of the US dollar, the denomination for plane sales, and the greenback may also scupper its plans to sell a UK factory to bring to down costs, said EADS CEO Louis Gallois, according to Bloomberg News.
Airbus has a record 3,663 planes in its backlog, worth 350 billion euros (US$556 billion). The unit contributes two-thirds of EADS' sales.
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