Big plane buyer sees tough times for Boeing, Airbus

02/9/2009 | Seattle Times, The

Steven Udvar-Hazy, CEO of aircraft leasing giant International Lease Finance Corp., predicted Friday that both Boeing Co. and Airbus will be forced to make deep production cuts in the coming months. "It would not be surprising to us if there were 30% to 35% cuts over the next 18 months," he said, noting that "airlines are focused on survival" and won't be ordering new planes. "It could happen that this will be the year when net cancellations and deferrals actually exceed the number of new aircraft orders," he said.

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