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EADS chief issues warning
Soaring procurement costs are likely to hit orders in the aviation industry the head of EADS has said - although he insisted that the production of the A380 superjumbo was back on track.
Addressing the firm’s annual shareholder meeting chief executive Louis Gallois, said that rising fuel costs, the weaker US dollar and limited access to credit would have a knock-on effect on the company’s bottom line over the next 12 months.
A number of leading airlines, including British Airways and Air France KLM, have warned that their profits would be hit by the current economic climate, while American Airlines recently announced plans to ground part of its fleet later this year in response to the rising cost of oil.
As reported by Procurement Leaders in April, Gallois has called on Airbus’ major suppliers to shift more of their production to the dollar area to offset the damage caused by the declining dollar
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