Airbus says economy has "turned the corner"

PARIS, July 22 (BestGrowthStock) – Airbus pronounced the recession
over from its point of view on Thursday, as it wrapped up the
Farnborough Airshow with a total of $13 billionin firm orders.
The European planemaker confirmed it would exceed its order
target for 2010 and said it was considering a fresh increase in
production to meet an upswing in demand.

“Ladies and gentlemen, the recession is definitely over,”
sales chief John Leahy told a news conference after a string of
deals mainly with leasing companies betting on an upturn.

“Liquidity is back in the market, traffic is back in the
market and GDP growth is back,” Leahy said.

“It looks as though we have turned the corner and that is
why we are seeing strong growth.”

He said airline figures showed that premium traffic was
rebounding after a slump during the financial crisis.

“It went down when investment bankers and lawyers got fired,
but they got hired back and planes are flying full again.”

Chief Executive Tom Enders said Airbus would sell “north of
400” planes in 2010 compared with a previous target up to 300.

He and Leahy said the EADS (EAD.PA: ) planemaking subsidiary
was considering further increases in its staple single-aisle
production and may also increase wide-body production.

Several companies at the air show reported positive signs
from the market but said economic signals also looked mixed.

Stock Today

(Reporting by Tim Hepher)((+331 4949 5452
[email protected]))

Airbus says economy has “turned the corner”