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Hazy: Boeing and Airbus to cut output 35% by 2010
10 February 2009
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[ILFC]
[Boeing]
[Airbus]
[Air France]
[Ryanair]
[Continental]
[787]
Boeing and Airbus could cut production by 35% in 2010, according to head of ILFC Steve Udvar-Hazy.
The grim prediction was made on the basis that orders will drop with falling demand and cancellations and deferrals will increase as airlines struggle to secure financing.
Hazy, who was speaking at an industry event in Seattle, thinks the reduction in output will begin later this year.
Despite the bold outlook, he said that ILFC, which is up for sale, would not be cancelling any orders. The lessor has 97 Boeing aircraft on order, according to the manufacturer's website.
Hazy went on to say the number of cancellations and deferrals could even outnumber new orders.
But Kostya Zolotusky,...
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