Aircraft News - Europe

AirGuide Business, July 14, 2008

Airbus

Airbus parent EADS had hedged a volume of about USD$15 billion at an average exchange rate of USD$1.25 per euro for 2009, Ring told the paper. For 2010, the company had as of March 31 hedged a volume of about USD$14 billion at an average of USD$1.35 per euro. EADS had since hedged further at between USD$1.50 and USD$1.55 per euro, Ring said. 7/11/2008

Airbus

Airbus parent EADS was meanwhile progressing well with its Power8 cost-cutting program, designed to bring savings of EUR2.1 billion by 2010 and slash 10,000 jobs, despite difficulties in selling Airbus plants. EADS was not yet ready to publicise details of additional cost-saving measures above and beyond Power8 and said it would take time as it grapples with how best to cope with the impact of the weak dollar and soaring oil price. 7/11/2008

Airbus

Airbus parent EADS' Chief Financial Officer Hans Peter Ring could revise the European aerospace group's 2008 profit forecast as it takes a hit from the weak dollar and high oil price, he told Boersen-Zeitung newspaper. Ring currently still expected the company to achieve earnings before interest and tax of about EUR1.8 billion euros (USD$2.83 billion) this year, the paper said. And a target for some 700 plane orders at its Airbus aircraft unit remained realistic. But Ring acknowledged in an interview with the German daily that EADS' earnings forecast was coming under pressure from the weakness of the dollar. EADS had hedged a volume of about USD$15 billion at an average exchange rate of USD$1.25 per euro for 2009, Ring told the paper. For 2010, the company had as of March 31 hedged a volume of about USD$14 billion at an average of USD$1.35 per euro. EADS had since hedged further at between USD$1.50 and USD$1.55 per euro, Ring said. 7/11/2008

Airbus

Airbus appointed a new head of the delayed A380, the world's largest airliner on Thursday. It named 51-year-old Alain Flourens as head of the A380 program, replacing Mario Heinen, who will head the planemaker's cross-border center of excellence for fuselage and cabins. Heinen replaces Ruediger Fuchs "who wishes to pursue other opportunities outside Airbus," it said in a statement. Cabin wiring problems have been blamed for delays of up to two years in delivering the 525-seat double-decker to airlines. 7/10/2008

Amerer Air, BAE Systems

Amerer Air, a cargo carrier based in Linz, will be the first customer for the re-launched BAe 146QT freighter program, BAE Systems Regional Aircraft announced. Amerer will purchase the aircraft and operate it on behalf of major integrators as well as on ad hoc charter flights. Aircraft recently completed its first freighter flight to Southend and now is undergoing final maintenance checks before delivery. Amerer is privately held and currently operates one F27-500. 7/7/2008

Austrian Airlines

Austrian Airlines yesterday reached agreement with AeroLogic, the Lufthansa/DHL cargo joint venture, to train its pilots for type ratings for the Boeing 777-200F. 7/7/2008

Ryanair

Ryanair will cut its winter schedule at Dublin, reducing based aircraft to 18 from 22 and the number of weekly flights to 1,190 from 1,352. It estimated a passenger decline of around 500,000 from winter 2007-08. It said DUB is the second most expensive of its base airports and that a written request to the airport to have fees reduced was "dismissed by the DAA monopoly." It said the airport charges up to EUR15 ($23.84) per departing passenger. DUB suffered from radar problems last week, forcing cancellations. 7/16/2008