ILFC chief sees slow year ahead for Boeing, Airbus

Published 3:44 pm Friday, February 6, 2009

Leasing guru Steven Udvar Hazy expects more order cancellations from airlines. “It wouldn’t surprise us if in the next 18 months we see a 30 to 35 percent cutback in production,” for the Boeing Co. and rival Airbus, he said.

ILFC’s Udvar Hazy made his comments while in Seattle during a ceremony the included Sir Richard Branson, who came to the Northwest to pick up the first 777 for V-Australia, an offshoot of his Virgin Airlines.

Udvar Hazy said it’s possible that jet makers may see more cancellations and deferred orders this year than orders for new aircraft. He also said he was frustrated by the delays in Boeing’s 787.