IATA: Aviation industry ‘sick’; Boeing, Airbus deliveries to suffer

Published 9:47 am Friday, February 20, 2009

Boeing and Airbus could see more than half of their 2009 jet deliveries deferred, predicted Giovanni Bisignani, director general of International Air Transport Association, yesterday.

Bisignani said that jet deliveries are in jeopardy because airlines are cutting capacity and can’t find financing.

“This is a sick industry in need of strong dose of change,” he said.

Airbus is taking steps to cut production on its A320 line. But Boeing hasn’t publicly announced rate cuts yet.

Here’s the Dow Jones news story on Bisignani’s remarks.

Boeing’s stock is taking a beating this morning, as is the rest of Wall Street, dropping to a new 52-week low of $35.69 in trading.

( polls)