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Mon, Jun 16, 2003

Aero-News Quote Of The Day (06.16.03)

Aero-News: Quote of the Day

ANN's Quote of the Day usually derives from current news, though we reserve the right to pick quotes out of history that have a bearing on the day's events and issues.

Reader suggestions and comments are welcome... and if particularly thought provoking or poignant, may themselves become future Quotes of the Day. Let us hear from you, folks!

Aero-News Quote of the Day

"When demand went down, we dramatically reduced production to support our customers, otherwise you hit [aircraft] residual values and you delay the recovery." Airbus is creating a glut of heavy iron on the market, one that will create "huge problems in pricing and that hits the industry too."

Source: Alan Mulally, CEO, Boeing Commercial Aircraft, speaking at the 45th Paris Air Show in Le Bourget, France. Mulally criticized Airbus as "irresponsible" for not cutting production to meet the lowered demands of the airline industry in the wake of Sept. 11, 2001.
FMI: www.boeing.com, www.airbus.com

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