Wednesday, March 29, 2006

The Euros have blown it again.

Trillions of Euros of subsidies later, Airbus is in the tank.

Airplane kingpins tell Airbus: Overhaul A350

ORLANDO, Fla. — Two of the world's most powerful airplane buyers yesterday said Airbus should completely rethink the plane it has proposed to compete against Boeing's strong-selling new 787.

Steven Udvar-Hazy, probably the most respected figure in the global business of buying and selling airplanes, predicted the current version of Airbus' A350 would sell poorly and leave Boeing to dominate the lucrative market for midsized wide-bodies.

He stunned a packed audience of some 700 aviation professionals here by calling on Airbus to scrap its existing A350 design and spend many additional billions on a brand-new airplane with a new fuselage and a new wing.

"That's probably an $8 billion to $10 billion decision. Airbus is at a crossroads," said Udvar-Hazy, founder, chairman and chief executive of the second-largest airplane-leasing company, Los Angeles-based International Lease Finance Corp.

Airbus had better make that decision before the Farnborough Air Show in England in July, he said.

His remarks were endorsed by Henry Hubschman, president of the world's No. 1 lessor of airplanes. In an interview, he said he "completely" agreed with Udvar-Hazy's message. Read it all

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